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West Red Lake Gold Mines announces equity incentive awards
West Red Lake Gold Mines Ltd, known as WRLG, has announced the issuance of equity incentive awards aimed at motivating and enhancing the performance of its executive team. This initiative includes stock options, restricted share units (RSUs), and deferred share units (DSUs), which are integral to the company’s broader compensation strategy.
Details of the equity incentive program
The company has granted a total of 4,839,269 stock options to its officers.
These options are designed to vest over a three-year period. A quarter of the options will become available three months after the grant date, while the remaining shares will vest in increments of 25% on each anniversary of the grant over the next three years. Each option has an exercise price set at $1.10 and can be exercised for up to five years from the issuance date.
Restricted and deferred share units
In addition to stock options, the company has allocated 2,845,503 restricted share units (RSUs) to its officers and 594,594 deferred share units (DSUs) to non-executive directors. The RSUs will vest in equal parts over three years on the anniversaries of the grant date, while the DSUs will become available after one year. This strategic initiative aims to align the interests of management with those of shareholders, fostering a culture of shared success.
Regulatory compliance and further information
The grants of stock options, restricted share units (RSUs), and deferred share units (DSUs) require approval from the TSX Venture Exchange. This regulatory acceptance is essential for ensuring that the company’s compensation plans meet industry standards and practices.
Stakeholders interested in more details about the equity incentive program are encouraged to review the management information circular prepared for the annual general meeting scheduled for June 10. This circular contains vital information regarding the terms and conditions of the equity awards and is available on the company’s SEDAR+ profile.
About West Red Lake Gold Mines Ltd.
West Red Lake Gold Mines Ltd. is a publicly traded company focused on developing its flagship Madsen Gold Mine. This project is supported by a highly prospective land package that covers 47 square kilometers in the renowned Red Lake district of Ontario. The Red Lake Gold District has a storied history, having produced over 30 million ounces of gold from high-grade deposits, establishing it as one of the most lucrative mining regions globally.
In addition, WRLG owns the Rowan Property, which spans 31 square kilometers and includes three historically productive gold mines: Rowan, Mount Jamie, and Red Summit. The company is dedicated to advancing its projects efficiently while maximizing shareholder value.
Contact information
For any inquiries or further information regarding West Red Lake Gold, please contact:
Shane Williams
President & Chief Executive Officer
Tel: (604) 609-6132
Email: [email protected]
Website: www.westredlakegold.com
It is important to note that neither the TSX Venture Exchange nor its Regulation Services Provider assumes responsibility for the content of this release. Investors are encouraged to review ongoing disclosure filings on SEDAR+ to stay informed about the company’s updates and progress.
