RE: In speaking today with peopleThe below NR isn't what you're talking about, is it? As of the Info Circ of May 23, 2007, Charles had 875,000 options (exercise prices at 15 and 25 cents). Including these latest grants, 1.5M probably isn't far off.
Also, see the second below section from the Management D&A of August - all totaled, the company has granted over 3.1M options to management this year, so you can bet that Bruce Lock's continued dumping of shares following exercise will continue for the foreseeable future.
*****
North American Gem Inc. Grants Incentive Stock Options
November 9, 2007: North American Gem Inc. (TSX-V symbol: NAG) would like to announce that pursuant to its stock option plan, the company has granted incentive stock options to its directors, officers, consultants and employees to purchase 1.5 million common shares in the capital stock of the company, exercisable for a period of two years, at a price of 12 cents per share. These options are subject to a four-month hold period.
About North American Gem Inc. North American Gem Inc. (TSX-V symbol: NAG) is a junior exploration Company based in Western Canada. The Company's primary goal is to explore for Uranium, Molybdenum, Gold, Copper and other base metals in Canada. The Company is actively pursuing several opportunities, including the Louise Lake copper-gold-molybdenum
-silver project located in British Columbia. The Company is also pursuing its uranium projects, consisting of the Whiskey Gap, Del Bonita, Western Basin, and Bonny Fault projects, all located in Alberta. In addition the Company is also pursuing its Mosquito Gulch uranium property located in the North West Territories and the Ranger Lake Uranium property located in Ontario.
On Behalf of the Board of Directors
NORTH AMERICAN GEM INC.
"Charles Desjardins"
Charles Desjardins
President and Director
*****
*****
The Company has a stock option plan available to personal grantees only whereby a “rolling” maximum of 10% of the issued and outstanding common shares of the Company may be reserved for issuance pursuant to the exercise of stock options. The term of the stock options granted are fixed by the board of directors and are not to exceed five years.
During the period, the Company granted stock options as follows:
o On January 18, 2007, the Company granted 700,000 incentive stock options to its directors, officers, and consultants exercisable over a two year period at a price of $0.14 per share, subject to a four month hold period.
o On March 12, 2007, the Company granted 250,000 incentive stock options to its directors, officers, and consultants exercisable over a two year period at a price of $0.18 per share, subject to a four month hold period.
o On May 16, 2007, the Company granted 700,000 incentive stock options to its directors, officers, and consultants exercisable over a two year period at a price of $0.18per share, subject to a four month hold period.
*****