"We are pleased to welcome Adam as a permanent member of Monarques's team," said Jean-Marc Lacoste, President and Chief Executive Officer of Monarques. "His experience and knowledge acquired in various areas of the resource sector will help us in achieving our goal of putting the Croinor Gold mine into production, as well as increasing Monarques's visibility with the financial community."
The Corporation also announced the granting of 1,405,000 stock options to officers, employees and a consultant. Each stock option entitles the holder to purchase one common share of the Corporation at a price of $0.33 per common share for a period of 5 years from the date of the grant. Of this number, 1,100,000 stock options vest immediately while 305,000 stock options will vest gradually over a period of 18 months, with a quarter vesting immediately and a quarter every 6 months afterwards. Options to purchase common shares that may be subscribed upon exercise thereof will be subject to a hold period of four months on resale which begins from the date of grant. These stock options are governed by the Stock Option Plan of the Corporation, as currently in force.
ABOUT MONARQUES GOLD CORPORATION
Monarques Gold is a growing junior gold company focused on becoming the leading explorer and developer of gold properties in the Val-d'Or/Abitibi gold camp in Quebec, Canada. The Corporation currently has approximately 200 km² of gold exploration properties (see map) along the Cadillac Break, including its main asset, the Croinor Gold mine, which has a great potential to become a producing mine. Monarques Gold is well financed and has close to $9 million in credits from Quebec's Ministry of Energy and Natural Resources.
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The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarques' actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX Venture Exchange nor its Regulation Services. Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Monarques Gold Corporation