TORONTO, Aug. 22, 2016 /CNW/ - Roxgold Inc. ("Roxgold" or "the Company") (TSX.V: ROG) announces that it has issued a total of 527,272 Deferred Stock Units ("DSUs") to non-executive directors as an annual award as outlined in the DSU Plan adopted in October 2012.
The Company has also granted 720,000 Restricted Share Units ("RSUs") to executives and senior management. The RSUs were granted in accordance with Roxgold's Restricted Share Unit Plan and are subject to vesting provisions. More specifically, the grant consists of a base amount of 240,000 units with vesting subject to retention while the remaining bonus units are subject to performance conditions.
Roxgold has also granted incentive stock options to recently hired employees to purchase up to an aggregate of 300,000 common shares, exercisable on or before August 22, 2021 at a strike price of $1.60.
Roxgold is a gold mining company with its key asset, the high grade Yaramoko Gold Mine, located in the Houndé greenstone region of Burkina Faso, West Africa. The Company expects to reach commercial production in Q3 2016. Roxgold trades on the TSX Venture Exchange under the symbol ROG and as part of the Nasdaq International Designation program with the symbol OTC: ROGFF.
"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
SOURCE Roxgold Inc.
For further information: Natacha Garoute, Chief Financial Officer, 416-203-6401, firstname.lastname@example.org