Mr. Sean Charland reports
EAGLE BAY RESOURCES ANNOUNCES RESIGNATION OF DIRECTOR AND GRANT OF STOCK OPTIONS
Jason Birmingham, a founding director of Eagle Bay Resources Corp., has resigned from the board to pursue other interests. The company wishes to thank Mr. Birmingham for his guidance and stewardship during his tenure and wishes him well in his future endeavours.
The company also wishes to announce that it has granted an aggregate of 1.3 million incentive stock options to purchase up to 1.3 million common shares of the company to certain directors, officers and consultants under its equity incentive plan. The options are exercisable for a period of five years from the date of grant, expiring on April 26, 2029, at a price of 20 cents per share. The options will vest as to 33 per cent on the date that is three months from the grant, 33 per cent on the date that is 12 months from the date of the grant and the final 34 per cent on the date that is 24 months from the date of the grant.
All options and the shares underlying such options are subject to a hold period of four months and one day from the date of issuance.
About Eagle Bay Resources Corp.
Eagle Bay Resources is a Canadian exploration company specializing in the acquisition and development of high-potential, rare-earth elements (REEs) and niobium properties. Eagle Bay Resources is publicly listed on the Canadian Securities Exchange and its common shares currently trade under the symbol EBR.
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