GR Silver Mining Grants 4.1 Million Options & 1.3 Million Performance Share Units

GR Silver Mining has granted incentive stock options to purchase up to an aggregate of 4,135,000 common shares and 1,322,566 performance share units (PSUs) under its Omnibus Equity Incentive Plan. The options carry an exercise price of $0.38 per share and a 5-year term, with half vesting on the grant date and the balance on the first anniversary. The PSUs went to certain executive officers and vest 1 year after the date of grant, subject to specific short-term key performance indicators being met. Both awards fall under the terms of the plan and the policies of the TSX Venture Exchange. 

Company Overview 

GR Silver Mining (TSXV: GRSL | OTCQX: GRSLF | FRANKFURT: GPE) is a Canadian-based, Mexico-focused mineral exploration company advancing silver-gold resource expansion on its 100%-owned assets on the eastern edge of the Rosario Mining District in southeast Sinaloa State, Mexico. The company controls 100% of the Plomosas Project, which includes the high-grade silver discovery at the San Marcial Area and the former Plomosas underground mine. Its advanced-stage exploration concessions cover 78 square kilometers.

Stock Option Grant

The company granted incentive stock options to purchase up to an aggregate of 4,135,000 common shares to certain directors, officers, employees, and consultants of GR Silver Mining and its subsidiaries. The grant was made under the Omnibus Equity Incentive Plan.

The options are exercisable at $0.38 per share for a period of 5 years from the date of grant. Half vest on the date of grant and the remaining half vest on the first anniversary of that date. The options are subject to the terms of the plan and to the policies of the TSX Venture Exchange.  

Performance Share Unit Grant

The company also granted an aggregate of 1,322,566 performance share units (PSUs) to certain executive officers. The PSUs vest 1 year after their date of grant on successful completion of specific short-term key performance indicators, and only where the holder is an executive officer or other eligible participant under the plan at that date.

Once vested, each PSU entitles the holder to receive one common share of the company, the cash equivalent of one common share, or a combination of cash and common shares. The company determines which of the three applies, and settlement is net of applicable withholdings.