Last checked at 8 Oct 2014 07:00
Kalimantan Gold Corporation Limited (the “Company”) announces that pursuant to the Company’s shareholder approved Stock Option Plan, the Company’s Board of Directors granted a total of 2,250,000 Incentive Stock Options (“Options”) to Directors and granted a total of 1,200,000 Options to employees and consultants for a total of 3,450,000 shares of the Company’s capital stock, that are exercisable between October 6, 2014, and October 6, 2019, at an exercise price of $0.05 per share, being the minimum price allowable under TSX Venture Exchange policies. The common shares issued upon exercise of options granted will be subject to any applicable regulatory hold periods.
The number of Options granted to the Directors subject to these arrangements and their resultant beneficial interests in the capital of the Company are as follows:
| Director | Number Optionsgranted October 6,2014 | Total Optionsgranted pursuant toPlan | Number of commonshares held | |||
| Faldi Ismail | 400,000 | 2,700,000 | 5,196,000 * | |||
| Peter Pollard | 300,000 | 650,000 | 202,052 | |||
| Doris Meyer | 250,000 | 1,200,000 | 941,134 | |||
| Raynard von Hahn | 300,000 | 300,000 | 37,994 | |||
| Stephen Hughes | 1,000,000 | 1,000,000 | - | |||
| 2,250,000 | 5,850,000 | 6,377,180 |
\* This number was incorrectly reported as 5,206,000 in the Company’s October 3, 2014 news released on AIM.
ON BEHALF OF THE BOARD OF DIRECTORS
Faldi Ismail, Deputy Chairman and CEO
For further information please contact:
Faldi IsmailDeputy Chairman and CEO, Kalimantan GoldMobile: +61 (0) 423 206 324Email: faldi.ismail@kalimantan.com
Gerald CheyneDirector Corporate DevelopmentTelephone: +44 (0) 2077311806Mobile: +44 (0) 7717473168Email: gerald.cheyne@kalimantan.com
VSA Capital LimitedAndrew Raca / Justin McKeeganTelephone: +44 20 3005 5004 / +44 20 3005 5009Email: araca@vsacapital.com
Kalimantan Gold's Nominated AdviserRFC Ambrian LimitedAndrew Thomson / Trinity McIntyreTelephone: +61 8 9480 2500Email: andrew.thomson@rfcambrian.com / trinity.mcintyre@rfcambrian.com
About Kalimantan Gold Corporation Limited
Kalimantan Gold Corporation Limited is a junior exploration company listed on both the TSX Venture Exchange in Canada and on AIM in London. The Company has two exploration projects in Kalimantan, Indonesia: the Jelai epithermal gold project in East Kalimantan and the KSK Contract of Work in Central Kalimantan with potential for multiple porphyry copper and gold prospects. For further information please visit www.kalimantan.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright Business Wire 2014