Toronto, Ontario, TheNewswire, January 12, 2023 - NewOrigin Gold Corp. (TSX-V: NEWO) is a Canadian junior explorer active in Ontario and Quebec. On November 4, 2022, the Company announced the appointment of Michael Farrant as Chief Financial Officer and Andrew Thomson as new lead director of the Company. In addition, Alex Rodriguez Tovalino was newly elected to the Company's Board of Directors (the "Board") at NewOrigin's Annual and Special Meeting of shareholders held on November 30, 2022 (the "AGM"). The Company elected to wait until after completion of its most recent $0.05 unit financing on December 20, 2022 to announce the grant of options resulting from these management and Board changes.
Stock option grants are governed by the terms of the Company's incentive stock option plan approved by NewOrigin shareholders at the November 30, 2022 AGM (the "Stock Option Plan"). The Board of the Company grants stock options from time to time as part of its strategy to incent and retain a strong team to drive growth.
Pursuant to the Company's Stock Option Plan, initial stock options have been granted to NewOrigin's new CFO, new director and additional stock options granted to the new lead director to purchase up to an aggregate of 700,000 common shares of the Company at an exercise price of $0.10 per share for a term of five years with immediate vesting (the "Options"). It should be noted the options are priced at double the prior day's closing share price.
About NewOrigin Gold Corp.
NewOrigin Gold Corp. is a Canadian gold exploration company focused on drill discovery at its Sky Lake gold project in the Canadian Shield. NewOrigin's management and Board have extensive experience in the delineation and development of gold deposits. NewOrigin trades on the TSX Venture Exchange under the ticker "NEWO".
For Further Information Contact:
Andrew Thomson, Lead Director & CEO
Phone: 905-727-1779
at@neworigingold.com or visit www.neworigingold.com
Neither the 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 news release.
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