Lupaka Announces a Grant of 1.75 million Incentive Stock Options

Lupaka Gold Corp. has granted 1.75 million incentive stock options to employees, consultants, officers and directors of the Company, under its 2010 Incentive Stock Option Plan. The incentive stock options are effective as of June 22, 2020. The options have vest time of over 18 months from date of grant and these are exercisable at a rate of $0.05 per share till June 22, 2025. The stock options are effective June 22, 2020.

The company previously granted 3.70 million incentive stock options in September 2019 to the company’s directors, officers, consultants and employees. The deemed exercise price for the incentive stock options was $0.02 per share however company reset the price at $0.05 per share as TSX Venture Policy 4.4 allows minimum exercisable price of $0.05 per share.

Lupaka works on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions of Peru. It is a Canadian-based company.