CALGARY, July 28, 2017 /CNW/ - Gemini Corporation (GKX-TSXV) today announced the grant of options and share units.
The Corporation granted an aggregate of 1,000,000 options to senior management at an exercise price of $0.105 per share, which was the closing market price on July 19, 2017. Under the terms of Gemini's option plan, the options are valid for four years from the date of grant and vest one-third immediately and the remainder at one-third on each of the next two grant date anniversaries. These grants bring the total number of options outstanding to 1,952,000 or 2.5% of the 76,882,832 issued and outstanding common shares of the Corporation.
A total of 990,000 performance and restricted share units were granted to certain officers and directors with a vesting date of January 1, 2020. The unit plan is structured to settle these share units through the issuance of shares on the vesting date.
Gemini operates as an integrated project solutions company focused on energy and industrial facilities. Gemini offers services on either a stand-alone basis or in a combination, integrated to provide our clients with a single point of accountability. The Company is celebrating its 35th anniversary in 2017.
Through an all-in commitment from every individual in the Company, Gemini is determined to change the client perspective of how project services should be delivered. The Company is uniquely qualified to provide a full spectrum of modular and integrated project solutions, leveraging a philosophy and approach that directly aligns with its clients' business objectives.
The Company is capable of servicing its clients through the full life cycle of their assets; from asset acquisition, environmental and regulatory support, engineering, fabrication, construction, maintenance, turnarounds, de-commissioning, reclamation and remediation. Gemini provides full project management to integrate any or all of these services. The Company's principal target markets are oil and gas, heavy oil, oil sands, midstream and pipeline facilities, hydrocarbon processing, power and other industrials.
The Company operates in western Canada and is headquartered in Calgary with offices in Ponoka, Fort Saskatchewan and Fort St. John.
Shares of Gemini trade on the TSX Venture Exchange under the symbol "GKX". For more information about the Company and its services, go to www.geminicorp.ca.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Gemini Corporation
For further information: Peter Sametz, President & CEO, (403) 781-9881, firstname.lastname@example.org; Chris Podolsky, CFO, (403) 301-4252, email@example.com