Vancouver, April 18, 2024 -
Hanstone Gold Corp. (TSXV:HANS) (FRA:HGO) (the "Company" or "Hanstone") announces that the Company's board of directors (the "Board") has approved the repricing (the "Repricing") of an aggregate of 2,954,000 stock options (the "Options") previously issued under the Company's stock option plan. The Repricing is subject to approval of the TSX Venture Exchange (the "TSXV") and disinterested shareholder approval. Approval for the Repricing will be sought at the Company's Annual General and Special Meeting of the shareholders of the Company (the "Meeting") to be held on June 7, 2024.
On April 18, 2024 the Board resolved that, subject to approval of the TSXV and approval of the Company's shareholders by way of disinterested shareholder approval at the Meeting, 2,954,000 outstanding Options be repriced from exercise prices of between $0.18 and $0.58 per common share to $0.10 per common share. In the context of the recent average trading price of the Company's common shares on the TSXV, the Options as currently priced may no longer offer an adequate incentive to Option holders. Recognizing that Option grants are a critical element of the Company's compensation policy, the Board is of the view that it is in the best interests of the Company to reprice the Options to $0.10, which remains a premium to the current market price of the Company's shares, to ensure that the exercise price of the Options is more in line with recent average trading prices. Additional information regarding the Repricing will be available in the management information circular prepared in connection with the Meeting.
About Hanstone Gold Corp
Hanstone is a precious and base metals explorer with its current focus on the Doc and Snip North Projects optimally located in the heart of the prolific mineralized area of British Columbia known as the Golden Triangle. The Golden Triangle is an area which hosts numerous producing and past-producing mines and several large deposits that are approaching potential development. The Company holds a 100% earn-in option on the 1,704-hectare Doc Project and owns a 100% interest in the 3,336-hectare Snip North Project. Hanstone has a highly experienced team of industry professionals with a successful track record in the discovery of gold deposits and in developing mineral exploration projects through discovery to production.
For Further Information Contact:
Ray Marks, President
+1-(778)-896-7778, ray.marks@hanstonegold.com
Or visit the Company's website at www.hanstonegold.com
Forward Looking Statements Disclaimer
The information contained herein contains "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation. "Forward-looking information" includes, but is not limited to, statements with respect to the activities, events, or developments that the Company expects or anticipates will or may occur in the future. Generally, but not always, forward-looking information and statements can be identified using words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negative connotation thereof or variations of such words and phrases or state that certain actions, events, or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotation thereof.
Forward-looking information and statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Hanstone's business and the industry and markets in which it operates and will operate. Forward-looking information and statements are made based upon numerous assumptions, including among others, the results of planned exploration activities are as anticipated, the price of gold, the cost of planned exploration activities, that financing will be available if needed and on reasonable terms, that third party contractors, equipment, supplies and governmental and other approvals required to conduct Hanstone's planned exploration activities will be available on reasonable terms and in a timely manner and that general business and economic conditions will not change in a material adverse manner. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
