VANCOUVER, Nov. 8, 2019 /CNW/ - Mirasol Resources Ltd. (TSX-V: MRZ, OTCPK: MRZLF) (the "Company" or "Mirasol") announced the grant of stock options under its Equity Incentive Plan for certain key members of its management team as long-term incentives and to align interest with shareholders. A total of 1,410,000 options were granted which are exercisable at $0.52 per share for a period of four years. The options are subject to vesting restrictions over a 3 year period.
The Mirasol Board also approved a short-term incentive structure. Key members of management may be entitled to receive bonuses up to a fixed percentage of the individual's salary, at the end of each fiscal year, provided that certain prescribed corporate and personal performance objectives are attained. The bonuses, if earned, shall be payable in a combination (50% each) of cash and restricted share units ("RSUs"). The number of RSUs to be issued will be determined by dividing 50% of the cash value of the bonus by the closing price of the common shares on the last trading day before the end of the fiscal year. The RSUs shall vest on the date they are issued.
About Mirasol Resources Ltd.
Mirasol is a premier project generation company that is focused on the discovery and development of profitable precious metal and copper deposits, operating via a hybrid joint venture and self-funded drilling business model. Strategic joint ventures with precious metal producers have enabled Mirasol to maintain a tight share structure while advancing its priority projects that are focused in high-potential regions in Chile and Argentina. Mirasol employs an integrated generative and on-ground exploration approach, combining leading-edge technologies and experienced exploration geoscientists to maximize the potential for discovery. Mirasol is in a strong financial position and has a significant portfolio of exploration projects located within the Tertiary Age Mineral belts of Chile and the Jurassic age gold and silver district of Santa Cruz Province Argentina.
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.
SOURCE Mirasol Resources Ltd.
For further information: Dana Prince, Chairman or Jonathan Rosset, VP Corporate Development, Tel: +1 (604) 602-9989, Email: [email protected], Website: www.mirasolresources.com