Galane Gold Ltd. Issues Common Shares Under Share Purchase Plan
(PressMethod) - Galane Gold Ltd. ("Galane Gold" or the "Company") (GG.V) today announced that certain officers and directors of the Company have acquired an aggregate of 63,130 common shares in the capital of the Company (the "Qualifying Shares"), at a price of $0.99 per share, under the Company's Share Purchase Plan (the "Plan"). Under the terms of the Plan, each participating officer or director is entitled to receive the matching number of common shares acquired pursuant to the Plan at no cost to such officer or director (the "Deferred Matching Shares"). Subject to certain conditions, such Deferred Matching Shares will be issued to the participating officers and directors over a three year period following the date of the purchase of the Qualifying Shares. As a result, the participating officers and directors of Galane Gold may be issued an aggregate of 63,130 Deferred Matching Shares in three equal tranches over a three year period. The Plan was approved by shareholders at the annual and special meeting of the Company on June 12, 2012.
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