Goldsource Mines Inc. (TSX-V:GXS) (FRANKFURT:G5M) announces the adoption of a new “rolling 10%” Stock Option Plan which was approved by the Board of Directors on April 11, 2014. The New Plan replaces and supersedes the Company’s previous fixed number stock option plan that was originally adopted in May 2009. The New Plan must be approved by the shareholders and re-approved on an annual basis by the shareholders at each annual general meeting of the Company as required by the policies of the TSX Venture Exchange. The next annual general meeting of shareholders of the Company will be held on June 11, 2014.
The Company also announces the grant of stock options to directors, officers, employees and consultants to purchase an aggregate of 2,075,000 common shares of the Company at an exercise price of $0.24 per share for a five year term expiring April 10, 2019. The options will be subject to an 18-month vesting schedule pursuant to which 25% shall vest immediately as of the date of grant and a further 25% shall vest every 6 months thereafter until fully vested.
Of the stock options granted, options to purchase a total of 1,050,000 common shares were granted under the New Plan and are subject to the Company receiving the necessary shareholder and regulatory approvals of the New Plan and the option grants. If such approvals are not obtained, the options granted under the New Plan will terminate.
ABOUT GOLDSOURCE MINES INC.
Goldsource Mines Inc. is a Canadian resource company that is working aggressively to develop its advanced-stage, 100%-owned Eagle Mountain gold project in Guyana with initial staged production in 2014. The project has an existing NI 43-101-compliant resource of 188,000 Indicated and 792,000z Inferred gold ounces, with strong potential to expand its resources. Goldsource Mines is led by an experienced management team, proven in making exploration discoveries, achieving construction on time and budget, and fast-tracking production.
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