Summary not available.
Galway Gold Inc. has successfully amended its equity incentive plan, adopted by shareholders on December 14, 2022, during the Annual General and Special Meeting. The revised plan features a 10% rolling stock option component, reserving an aggregate of 4,162,798 shares for issuance as of the meeting date. This amendment aligns with the TSX Venture Exchange's updated Policy 4.4 on Security Based Compensation, introduced in November 2021. For further details, the full text of the plan is available in the Company’s information circular released on November 10, 2022, accessible at www.sedar.com.
Galway Gold Inc. provides an update on its arbitration claim against Colombia under the Canada-Colombia Free Trade Agreement. The ongoing arbitration seeks compensation for losses due to Colombia's prohibition on mining in the páramos. An encouraging decision in a related arbitration involving Eco Oro, which found Colombia liable, may positively influence Galway Gold's claims. A hearing on jurisdiction and liability for Galway Gold is set for June 20-24, 2022. Final damages will be determined in a subsequent phase. More updates on the arbitration proceedings will follow.