Kilo Goldmines Ltd. Announces Grant of Stock Options
19.06.2013 | Marketwired
TORONTO -- 06/19/13 -- Kilo Goldmines Limited ("Kilo" or the "Company") (TSX VENTURE: KGL) (FRANKFURT: 02K) announced today that, subject to regulatory approval, it has granted stock options to acquire an aggregate of 7,050,000 common shares to directors, officers, employees, consultants and contractors of Kilo and it's DRC subsidiaries under its stock option plan. Each option is exercisable for a five year period to acquire one common share at a price of $0.12 per share. A total of 2,400,000 options granted to non-executive directors vest as to 50% immediately and 50% on the one year anniversary. Options granted to FronTier Consulting vest as to 50,000 immediately and 50,000 as to each of the three, six and nine month periods immediately following. The remainder of the options which are granted to executive officers, employees, consultants and contractors vest over a period of two years and are subject to company performance measured against an established peer group in the exploration sector, as well as to the achievement of individual performance criteria.About Kilo
Kilo Goldmines Ltd. is a Canadian gold exploration company that is listed on the TSX Venture Exchange under the symbol 'KGL' and on the Frankfurt Exchange under the symbol '02K'. The Company holds about 3,000 square kilometres of favourable Archaean Kabalian greenstone in the Kilo-Moto area in the Democratic Republic of the Congo. Kilo's principal focus is to advance its projects from exploration through feasibility to project development and ultimately to full production in a socially and environmentally responsible manner. The Company owns a 71.25% interest in the DRC entity that holds the Somituri Project Exploitation Permits.
Neither 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.
Contacts:
Kilo Goldmines Limited
Alex Van Hoeken, President and CEO
+1 (416) 360 3415
info@kilogoldmines.com
www.kilogoldmines.com
