|By Marketwired .||
|June 27, 2014 06:47 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 06/27/14 -- SnipGold Corp. (TSX VENTURE: SGG) ("SnipGold" or the "Company") is pleased to announce that Kevin Nishi has been appointed to the Board of Directors and that Tim Thiessen has been appointed Interim CFO.
The Company wishes to thank Ms. Carol Anne Lunshof for her dedicated efforts with the Company over the past 4 years and for agreeing to act as a consultant on an as-needed basis over the next several months. The Board and Management wish Ms. Lunshof great success in her endeavors.
The Company also announces that, subject to TSX Venture Exchange approval, it has granted a total of 205,000 options to consultants, directors, and officers at an exercise price of $0.10 per common share expiring after five years.
The options granted to consultants will vest under the Company's normal vesting provisions, which allow for 25% of the options to vest upon grant, with the remaining 75% to vest evenly over the next three anniversary dates.
A portion of the options granted to directors and officers have incentive based conditions for vesting. The initial 25% vest on grant date and 50% will vest over the next two anniversary dates. The remaining 25% of the options will only vest once certain predetermined performance criteria are met. These criteria are set by the Board of Directors.
SnipGold Corp. is a Canadian junior exploration company focused on the exploration and expansion of gold resources in northwest British Columbia. SnipGold's board and management have significant experience in both the discovery and development of gold projects in this area.
On Behalf of the Board of Directors
John Zbeetnoff, Chief Executive Officer
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