At the annual general meeting, shareholders approved all motions put forth, including the re-election of
The SBC Plan’s purpose is to (i) provide the Company with a mechanism to attract, retain, and motivate highly qualified directors, officers, employees, and consultants; (ii) align the interest of such directors, officers, employees, and consultants with that of other shareholders of the Company; and (iii) enable and encourage them to participate in the long-term growth of the Company.
The SBC Plan permits the grant of Restricted Share Units (as defined in the Equity Plan) and Deferred Share Units (as defined in the SBC Plan) (Restricted Share Units and Deferred Share Units collectively referred to as “Awards”). The maximum number of Awards that may be granted under the SBC Plan is fixed at 6,823,938. Further, the maximum number of shares for which Awards and other share compensation issuable to: (i) any participant shall not exceed 5% of the outstanding shares within any one year period, (ii) a consultant shall not exceed 2% of the outstanding shares within any one year period; and (ii) insiders as a group shall not exceed 10% of the outstanding shares. No persons providing investor relations activities may be granted Awards under the SBC Plan. All Awards are subject to a mandatory one year vesting requirement. Additional details of the SBC Plan are set forth in the Company’s information circular dated
About FSX
Fosterville South began with two, 100% owned, high-grade gold projects called the Lauriston and Golden Mountain Projects, and has since acquired a large area of granted and application tenements containing further epizonal (low-temperature) high-grade gold mineralisation called the
All of FSX’s properties, with the possible exception of Moormbool, have had historical gold production from hard rock sources despite limited modern exploration and drilling.
Recently, Fosterville South entered into an agreement with WDR to acquire a significant 2,166 sq. km mineral exploration land package in PNG (as described in the FSX News Release dated
The land package included in the acquisition comprises an EL and multiple ELAs. It includes both early-stage and advanced-stage exploration targets with high-grade epithermal vein and porphyry-style mineralisation present.
WDR has done significant work on various projects in the past two years, generating multiple high priority drill targets.
On behalf of FSX
Chief Executive Officer and Director
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fosterville South cautions that all forward-looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Fosterville South's limited operating history, its exploration and development activities on the Lauriston,
Neither
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