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Northern Shield Resources (TSXV:NRN) has announced that it has granted options to acquire a total of 6,850,000 common shares, pursuant to its shareholder approved stock option plan. As quoted in the press release: Options to acquire a total of 5,300,000 common shares were issued to Northern Shield’s officers and directors, and the balance were issued …
Northern Shield Resources (TSXV:NRN) has announced that it has granted options to acquire a total of 6,850,000 common shares, pursuant to its shareholder approved stock option plan.
As quoted in the press release:
Options to acquire a total of 5,300,000 common shares were issued to Northern Shield’s officers and directors, and the balance were issued to employees and consultants of Northern Shield. Each option entitles the holder to acquire one share for $0.16 per share for a period ending June 10, 2021.
This grant of options is the first grant Northern Shield has made in four years, as Northern Shield’s board did not feel it was appropriate to grant options during such period of generally falling share prices which resulted from, among other things, a decline in the junior mining market and commodity prices as well as general economic and capital market depression. Following such grant of options, Northern Shield now has outstanding under its Stock Option Plan options to acquire just under 6.5% of Northern Shield’s outstanding common shares which percentage will fall to approximately 5% by the end of 2016 as options granted five years ago expire.