Newcore Gold Announces Annual Grant of Equity Incentive Awards

Rhea-AI Summary

Newcore Gold (TSX-V: NCAU, OTCQX: NCAUF) has announced its annual grant of equity incentive awards. The company has granted a total of 3,690,000 equity incentive awards, comprising 1,690,000 stock options, 1,700,000 restricted share units, and 300,000 performance share units to its employees, directors, and executives. The stock options were granted at a price of $0.29 per share with a five-year term. All awards are subject to regulatory approval and vesting provisions, and are granted under Newcore's long-term incentive plan.

Positive

• Implementation of a long-term incentive plan to align employee and shareholder interests
• Diversified equity incentive structure including stock options, restricted share units, and performance share units

Negative

• Potential dilution of existing shareholders' equity due to the issuance of 3,690,000 new equity incentive awards

VANCOUVER, British Columbia, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) announces the annual grant of equity incentive awards. Newcore has granted 1,690,000 stock options, 1,700,000 restricted share units and 300,000 performance share units (together the "Equity Incentive Awards") to employees, directors and executives of the Company. The stock options were granted at a price of $0.29 per share for a period of five years. The Equity Incentive Awards are subject to regulatory approval, are granted under the Company’s long-term incentive plan and are subject to vesting provisions.

About Newcore Gold Ltd.

Newcore Gold is advancing its Enchi Gold Project located in Ghana, Africa’s largest gold producer ⁽¹⁾. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 19% equity ownership, and prime district scale exploration opportunities. Enchi’s 248 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several multi-million-ounce gold deposits, including the Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
^{(1) Source: Production volumes for 2023 as sourced from the World Gold Council.}

On Behalf of the Board of Directors of Newcore Gold Ltd.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com

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.

FAQ

How many equity incentive awards did Newcore Gold (NCAUF) grant in its annual allocation?

Newcore Gold granted a total of 3,690,000 equity incentive awards, consisting of 1,690,000 stock options, 1,700,000 restricted share units, and 300,000 performance share units.

What is the exercise price and term of the stock options granted by Newcore Gold (NCAUF)?

The stock options were granted at a price of $0.29 per share for a period of five years.

Are Newcore Gold's (NCAUF) equity incentive awards subject to any conditions?

Yes, the equity incentive awards are subject to regulatory approval, are granted under the company's long-term incentive plan, and are subject to vesting provisions.

Who are the recipients of Newcore Gold's (NCAUF) equity incentive awards?

The equity incentive awards were granted to employees, directors, and executives of Newcore Gold.