MONTREAL, QUEBEC--(Marketwired - Aug. 29, 2017) - Aurvista Gold Corporation ("Aurvista" or the "Company") (TSX VENTURE:AVA)(OTCQB:ARVSF)(FRANKFURT:AV2) announces the grant of a total of 1.8 million stock options to six new members of the Board of Directors who were elected at the recent August 15 Annual and Special Meeting of the Shareholders. The options have a five year term, an exercise price of $0.30, the closing price of the Aurvista shares on the day of the grant, and vest one-quarter immediately, and one-quarter on each anniversary date of the grant.
As the current Stock Option Plan provides for a maximum of 16,740,000 options that may be granted under the Plan the Board also amended the Plan to become a Rolling Stock Option Plan that allows for the issuance of such number of options equal to 10% of the outstanding shares. The right of each holder to exercise the options and the amendment of the Stock Option Plan is subject to the approval of the TSX Venture Exchange and the approval of the shareholders of Aurvista.
Douay Gold Project and Company Profile:
Aurvista Gold Corporation is a well-funded gold exploration and development company focused on advancing one of the largest undeveloped gold projects in Quebec. The Company's district-scale 305 km² Douay Gold Project is located along a 40km segment of the Casa Berardi Deformation Zone within the prolific Abitibi Greenstone Belt in northern Quebec. The Project hosts a multi-million ounce gold deposit that remains open in several directions, with excellent infrastructure and several large scale operating mines within 150 km. The Douay Gold Project's high-grade zones have never been mined and the Project is virtually royalty-free. The Company has aggressive property-wide exploration and drilling plans, with the aim of building high-quality ounces in one of the best mining jurisdictions in the world.
ON BEHALF OF AURVISTA GOLD CORPORATION
B. Matthew Hornor, President & CEO
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 PRESS RELEASE.
Forward Looking Statements
This news release may contain forward-looking statements based on assumptions, uncertainties and management's best estimate of future events. Actual events or results could differ materially from the Company's expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as "anticipate", "will", "intend" and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Aurvista Gold Corporation's filings with Canadian securities regulators available on www.sedar.com or the Company's website at www.aurvistagold.com.