Issue of new Stock Options News release today:
Options include 1,650,000 issued to directors, officers, and insiders of the Company exercisable at $0.345 for a period of three years. In addition, 180,000 options were issued to employees and consultants of the Company exercisable at $0.345 for a period of three years. All options were granted in accordance with the Company's stock option plan.
There was no other explanation as to whether these reward past performance or are directed at key employee retention with multi year vesting provisions.
These options are issued in addition to the 6,228,000 already issued and outstanding (5,765,500 already exercisable at January 1, 2022.) This was in line with the 10% cap based on the current issued and outstanding shares. Given the dramatic increase in the number of shares now issued, I for one would like to see the stock option plan capped out at 5% of the float - we are now exposed to an accelerating dilution of the Company's share capital to insiders.