San Gold Corporation (TSX:SGR)(OTCQX:SGRCF) (the "Corporation"),March 02, 2012 announced the issuance of 4,765,000 incentive stock options ("Options") to purchase its common shares, exercisable at $1.58 per common share, to approximately 80 employees, directors, officers, and consultants of the Corporation. The Options have been issued pursuant to the Corporation's stock option plan and expire five years from the date of issuance. The Options are subject to an annual vesting of one-third of the quantity at the end of each of the first three years following issuance.
After this grant, the corporation will have total options outstanding of 19,215,009 at an average strike price of $2.38 (7,329,978 exercisable, 11,885,031 not yet exercisable) representing 6.1% of the outstanding shares of the Corporation. These grants are widely distributed and form an important part of the long term incentive compensation for key employees to aid in their retention
About San Gold
San Gold is an established Canadian gold producer, explorer, and developer that owns and operates the Hinge, 007, and Rice Lake mines near Bissett, Manitoba. The Company employs more than 400 people and is committed to the highest standards of safety and environmental stewardship. San Gold is on the Toronto Stock Exchange under the symbol "SGR" and on the OTCQX under the symbol "SGRCF".
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