Post by
BSdetector2016 on Aug 07, 2019 6:04am
Really bad optics....oink oink
OTTAWA, Aug. 06, 2019 (GLOBE NEWSWIRE) -- Cornerstone Capital Resources Inc. (“Cornerstone” or “the Company”) (TSXV-CGP) (F-GWN) (B-GWN) (OTC-CTNXF) reports that the Board of Directors of the Company has approved the granting of stock options totaling 500,000 options to directors, officers, consultants and employees of the Company effective August 6, 2019. These options have been priced at $4.00 and have an expiry date of August 5, 2024. As per the Company's Stock Option Plan, these options vest in three equal tranches over an eighteen-month period from the date of issue. Following this stock option grant (and the expiry of 122,500 options on August 19, 2019) the Company will have a total of 2,480,299 stock options outstanding, which represents approximately 7.7% of the Company's 32,007,070 issued and outstanding common shares.
Comment by
FoolAndHisMoney on Aug 07, 2019 10:52am
I agree the optics are really bad. They no doubt have the legal right to do this but it was not the right thing to do. On the heels of the recent large stock option grant I think that this is unethical. They seem to be operating on greed rather than need. They’ve lost their focus.
Comment by
ClockKing11 on Aug 07, 2019 11:27pm
"They’ve lost their focus." --F & M Here's hoping that it will rather sharpen their focus. Let's see them put out some extra effort and actually increase the value of the stock in the process. If this fuel they need for motivation, let's see them finally kick start things toward the worthy stock price this vault of gold deserves.
Comment by
optimist7 on Aug 08, 2019 2:42am
plus it helps to keep your top rated geologists in a country where every other miner is chasing them with much better pay packets.
Comment by
FoolAndHisMoney on Aug 08, 2019 9:49am
If that’s the case it would have been helpful if they said that in the NR. The volume of stock option grants seems over the top to me. It sends a very poor message and leaves a negative image of the Board and management and a sour taste for the average shareholder.
Comment by
BSdetector2016 on Aug 08, 2019 11:54am
They've basically got one (Crepeau), and he just needs to keep the lights on until take-out time. This stunt was all about Director and Management greed, done during the summer doldrums, hoping nobody would notice. And all this after a 1 for 20 consolidation.
Comment by
FoolAndHisMoney on Aug 08, 2019 3:28pm
Actually they have many more than one. All the geologists working on the Sunstone, Newcrest and Enami JVs are on Cornerstones payroll as Cornerstone manages these projects and charges back the costs to the JV partners.
Comment by
FoolAndHisMoney on Aug 08, 2019 3:29pm
Actually they have many more than one. All the geologists working on the Sunstone, Newcrest and Enami JVs are on Cornerstones payroll as Cornerstone manages these projects and charges back the costs to the JV partners.@