Northisle Copper and Gold Inc.’s (TSXV: NCX) Board of Directors has approved the issuance of 2,175,300 stock options pursuant to the company’s incentive stock option plan. The options provide for the purchase of an aggregate of 2,175,300 shares at C$0.40 each, which is the closing price for the shares on the TSX Venture Exchange as of 21 December 2023.
All the options have a five-year term and vest one third per year commencing 21 December 2023, except for options granted to an investor relations employee which vest one third per year commencing the following year on 21 December 2024.
In addition, the Board of Directors has approved the issuance of 300,000 deferred share units (DSU) and 367,800 restricted share units (RSU), pursuant to the company’s share unit plan. The DSUs will vest on 21 December 2024, and the RSUs will vest one third per year commencing 21 December 2024.
Northisle Copper and Gold is a Vancouver-based company whose mission is to become Canada’s leading sustainable mineral resource company for the future. Northisle owns the North Island Project, which it says is one of the most promising copper and gold porphyry deposits in Canada.
The North Island Project is located near Port Hardy, British Columbia on a more than 34,000ha block of mineral titles 100% owned by Northisle stretching 50km northwest from the now closed Island Copper Mine operated by BHP Billiton.
Northisle completed an updated preliminary economic assessment for the North Island Project in 2021 and is now focused on advancement of the project while continuing exploration within this highly prospective land package.
For further information, please visit: www.northisle.ca
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