The Prospector News

Pele Mountain Renews President and CEO

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Pele Mountain Renews President and CEO

 
 
Pele Mountain Resources Inc. (TSX VENTURE:GEM) (OTCQX:GOLDF) announced that the Company and its President and Chief Executive Officer, Alan L. Shefsky have negotiated a 4-year renewal of Mr. Shefsky\’s executive employment agreement.
 
The Executive Agreement in effect terminates and replaces the previous five-year executive employment agreement which was set to expire on September 30, 2012.

In connection with the Executive Agreement, Mr. Shefsky has been granted options

to acquire up to 3,000,000 common shares of the Company, expiring on or before September 30, 2015. The CEO Options are exercisable at an exercise price of $0.15 per common share for the first 1,000,000 options, $0.20 per common share for the second 1,000,000 options and $0.25 per common share for the remaining 1,000,000 options.
 
Furthermore, effective October 1, 2013, the exercise price of all unexercised First Tranche Options shall increase to $0.20 per common share and effective October 1, 2014, the exercise price of all unexercised First Tranche Options and Second Tranche Options shall be increased to $0.25 per common share. The First Tranche Options shall vest on October 1, 2012, the Second Tranche Options shall vest on October 1, 2013 and the Third Tranche Options shall vest on October 1, 2014. The granting of the CEO Options remain subject to regulatory acceptance of applicable filings.
 
Posted June 1, 2012

Share this news article

MORE or "UNCATEGORIZED"


Argo Gold Assays 32.84 g/t Au over 2.5 metres at the Raingold Area, Uchi Gold Project

Argo Gold Inc. (CSE: ARQ) (OTCQB: ARBTF) (FSE: P3U) (“Arg... READ MORE

October 15, 2021

Gowest Gold Completes Debt Conversion

Gowest Gold Ltd.  (TSX-V: GWA) announced today that, effective O... READ MORE

October 15, 2021

Roscan Gold Announces Completion of Strategic C$6.4 Million Investment by Asante Gold Corporation

Roscan Gold Corporation (TSX-V: ROS) (FSE: 2OJ) (OTC Pink: RCGCF... READ MORE

October 15, 2021

Galiano Gold Reports Preliminary Q3 2021 Operating Results for the Asanko Gold Mine

Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) reports prelimi... READ MORE

October 15, 2021

West Red Lake Gold Drills 77.87 gpt Gold Over 1.9 Metres

West Red Lake Gold Mines Inc. (CSE: RLG)  (OTCQB: RLGMF) (FSE: H... READ MORE

October 14, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News