Dixie Gold Inc. Announces Change to Stock Option Plan
Vancouver, November 6, 2024 - Dixie Gold Inc. (TSX VENTURE: DG)("Dixie Gold" or the "Corporation") reports that its board of directors has approved the implementation of a new "fixed 10%" stock option plan (the "Fixed Plan"), subject to final acceptance by the TSX Venture Exchange (the "Exchange"). The Fixed Plan is to replace the Corporation's current "rolling 10%" stock option plan (the "Rolling Plan"). Unlike the Rolling Plan, the Fixed Plan sets a prescribed limit to the number of available stock options and does not automatically increase the rolling availability 'pool' of stock options should the Corporation's issued and outstanding shares increase. In this regard, fewer stock options may be available on a forward-basis for the Corporation to issue under a Fixed Plan versus a Rolling Plan, thus prospectively enhancing the Corporation's capital structure for shareholders. In addition, certain obligations, inclusive of reoccurring Exchange fees required to be generally paid when a Rolling Plan is in use are not applicable to a Fixed Plan given specific non-variable differences between the two plan types, which may in turn help to reduce regulatory expenses that would otherwise be borne by the Corporation in the future.
Under the Fixed Plan, the Corporation shall be permitted to grant up to an aggregate of 3,173,719 stock options to encourage equity participation among management, directors and consultants, including through the acquisition of common share equity in the Corporation if granted stock options are exercised. Stock option plans aim to help enable companies, including the Corporation, attract and retain qualified personnel and expertise.
Dixie Gold has 1,125,000 options currently outstanding under its previous stock option plan and a further 2,048,719 options are reserved and available for issuance under the Fixed Plan. The Fixed Plan was adopted by the Corporation effective as of November 5, 2024.
Stock options granted pursuant to the Fixed Plan cannot be exercised until receipt of Exchange approval of the Fixed Plan ("Exchange Approval"). If Exchange Approval is not obtained, the stock options granted under the Fixed Plan will terminate.
About Dixie Gold Inc.
Dixie Gold Inc. (TSXV: DG) is a publicly traded exploration company holding a portfolio of exploration projects in Canada.
For more information, please visit www.dixiegold.ca
On Behalf of the Board of Directors
Nicholas Koo
Chief Financial Officer
Dixie Gold Inc.
T: 604.687.2038
Forward-Looking Statements
This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties, including but not limited to implementation of the Fixed Plan, approval(s) required from the TSX Venture Exchange for the Fixed Plan, as well as to stock options granted under the Fixed Plan (or an alternate substitute) in the future. Actual results may differ materially from those currently expected or forecast in such statements.
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 (c) 2024 TheNewswire - All rights reserved.