British Columbia, Canada
(State or other jurisdiction of incorporation or organization) |
n/a
(I.R.S. Employer Identification No.) |
|
Suite 610, 815 West Hastings Street
Vancouver, British Columbia
Canada V6C 1B4 (604) 669-5702 (Address of Principal Executive Offices) |
Stock Option Incentive Plan
Restricted Share Unit Award Plan
|
||
(Full titles of the plans)
|
||
Gold Standard Ventures (US) Inc.
2320 Last Chance Road
Elko, Nevada 89801
(Name and address of agent for service)
(775) 738-9572
(Telephone number, including area code, of agent for service) With a copy to
Randal R. Jones
Dorsey & Whitney LLP
701 Fifth Avenue, Suite 6100
Seattle, WA 98104
(206) 903-8800
|
Title of Each Class of Securities to be Registered |
Amount to be Registered(1) |
Proposed Maximum Offering Price Per Share(2) |
Proposed Maximum Aggregate Offering Price |
Amount of Registration Fee |
Common shares, no par value(3)
|
15,448,871
|
$1.52
|
$23,482,284
|
$2,924
|
Common shares, no par value(4)
|
9,441,896
|
$1.32
|
$12,446,533
|
$1,550
|
Total
|
$35,928,817
|
$4,473
|
(1) |
Pursuant to Rule 416(a) of the Securities Act of 1933, as amended, this registration statement also covers any additional securities that may be offered or issued to prevent dilution resulting from stock splits, stock dividends or similar transactions in accordance with the provisions of the plans.
|
(2) |
Estimated solely for the purpose of calculating the registration fee in accordance with Rule 457(h)(1) and 457(c). The proposed maximum aggregate offering price is based upon the average of the high and low prices of the common shares reported on the NYSE American LLC on June 6, 2018 for common shares reserved for future option issuances under the Stock Option Incentive Plan (the "Option Plan").
|
(3) |
Represents common shares, without par value, issuable pursuant to the Option Plan and the Restricted Share Unit Award Plan (the "RSU Plan"). Under the terms of the Option Plan, the Registrant may issue up to 10% of its issued and outstanding shares under the Option Plan and all of the Registrant's other previously issued and outstanding security-based compensation arrangements, including the RSU Plan, under which the Registrant may issue up to 5,000,000 common shares. Accordingly, any shares issued pursuant to the RSU Plan will reduce the number of shares issuable pursuant to the Option Plan.
|
(4) |
Represents common shares, without par value, issuable pursuant to 9,441,896 outstanding options granted under the Option Plan with a weighted average exercise price of Cdn$1.71 per share. The amounts have been converted to U.S. dollars for purposes of this registration fee table based on the daily exchange rate reported by the Bank of Canada on June 7, 2018, which was Cdn$1.00 to $0.7709.
|
(a)
|
The Annual Report on Form 40-F for the year ended December 31, 2017, filed with the Commission on March 30, 2018;
|
(b)
|
All other reports filed by the Registrant under Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act") since December 31, 2017; and
|
(c)
|
The description of the Registrant's securities contained in the Registrant's registration statement on Form 8-A filed under the Exchange Act on June 21, 2012.
|
·
|
indemnify an eligible party against all judgments, penalties or fines awarded or imposed in, or amounts paid in settlement of, an eligible proceeding, to which the eligible party is or may be liable; and
|
·
|
after the final disposition of an eligible proceeding, pay the "expenses" (which includes costs, charges and expenses (including legal and other fees) but excludes judgments, penalties, fines or amounts paid in settlement of a proceeding) actually and reasonably incurred by an eligible party in respect of that proceeding.
|
·
|
is or was a director or officer of the company;
|
·
|
is or was a director or officer of another corporation
|
o
|
at a time when the corporation is or was an affiliate of the company, or
|
o
|
at the request of the company; or
|
·
|
at the request of the company, is or was, or holds or held a position equivalent to that of, a director or officer of a partnership, trust, joint venture or other unincorporated entity;
|
·
|
if the indemnity or payment is made under an earlier agreement to indemnify or pay expenses and, at the time that such agreement was made, the company was prohibited from giving the indemnity or paying the expenses by its memorandum or articles;
|
·
|
if the indemnity or payment is made otherwise than under an earlier agreement to indemnify or pay expenses and, at the time that the indemnity or payment is made, the company is prohibited from giving the indemnity or paying the expenses by its memorandum or articles;
|
·
|
if, in relation to the subject matter of the eligible proceeding, the eligible party did not act honestly and in good faith with a view to the best interests of the company or the associated corporation, or as the case may be; or
|
·
|
in the case of an eligible proceeding other than a civil proceeding, if the eligible party did not have reasonable grounds for believing that the eligible party's conduct in respect of which the proceeding was brought was lawful.
|
·
|
order a company to indemnify an eligible party against any liability incurred by the eligible party in respect of an eligible proceeding;
|
·
|
order a company to pay some or all of the expenses incurred by an eligible party in respect of an eligible proceeding;
|
·
|
order the enforcement of, or any payment under, an agreement of indemnification entered into by a company;
|
·
|
order a company to pay some or all of the expenses actually and reasonably incurred by any person in obtaining an order; or
|
·
|
make any other order the court considers appropriate.
|
Exhibit Number
|
Exhibit
|
4.1
4.2
|
Gold Standard Ventures Corp. Stock Option Incentive Plan
Gold Standard Ventures Corp. Restricted Share Unit Award Plan
|
5.1
|
Opinion and Consent of Borden Ladner Gervais LLP
|
23.1
|
Consent of Borden Ladner Gervais LLP (included in Exhibit 5.1)
|
23.2
|
Consent of Davidson & Company LLP
|
23.3
|
Consent of Michael B. Dufresne, M.Sc., P.Geol., P.Geo.
|
23.4
|
Consent of Steven J. Nicholls, BA.Sc., MAIG
|
23.5
|
Consent of Steven R. Koehler, B.Sc., QP, CPG
|
23.6
|
Consent of Gary Simmons , B.SC., QP, MMSA
|
24.1
|
Power of Attorney
|
(a)
|
The undersigned Registrant hereby undertakes:
|
(1)
|
to file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
|
(i)
|
to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
|
(ii)
|
to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set forth in the "Calculation of Registration Fee" table in the effective registration statement;
|
(iii)
|
to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;
|
(2)
|
that, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof; and
|
(3)
|
to remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
|
(b)
|
The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
|
(h)
|
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Act and will be governed by the final adjudication of such issue.
|
|
|
GOLD STANDARD VENTURES CORP.
|
|
|
|
|
|
|
|
By:
|
/s/ Jonathan Awde |
|
|
Name: Jonathan Awde
|
|
|
Title: President and Chief Executive Officer
|
Signature
|
|
Title
|
Date
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Jonathan Awde
|
|
President, Chief Executive Officer and
|
June 8, 2018
|
Jonathan Awde
|
|
Director (Principal Executive Officer)
|
|
|
|
|
|
|
|
|
|
/s/ Michael Waldkirch
|
|
Chief Financial Officer (Principal Financial Officer
|
June 8, 2018
|
Michael Waldkirch
|
|
and Principal Accounting Officer) |
|
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Lead Director
|
June 8, 2018
|
D. Bruce McLeod
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
June 8, 2018
|
Robert McLeod
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Director
|
June 8, 2018
|
Jamie Strauss
|
|
|
|
|
|
|
|
|
|
|
|
*
|
|
Director |
June 8, 2018
|
William Threlkeld
|
|
|
|
|
|
|
|
* |
Director and Authorized Representative in the
|
June 8, 2018
|
|
Alex Morrison
|
United States | ||
*
|
Director
|
June 8, 2018
|
|
Zara Boldt
|
|||
*
|
Director
|
June 8, 2018
|
|
Ron Clayton
|
Exhibit Number
|
Exhibit
|
|
4.1
|
Gold Standard Ventures Corp. Stock Option Incentive Plan
|
|
4.2 | Gold Standard Ventures Corp. Restricted Share Unit Award Plan | |
5.1
|
Opinion and Consent of Borden Ladner Gervais LLP
|
|
23.1
|
Consent of Borden Ladner Gervais LLP (included in Exhibit 5.1)
|
|
23.2
|
Consent of Davidson & Company LLP
|
|
23.3
|
Consent of Michael B. Dufresne, M.Sc., P.Geol., P.Geo.
|
|
23.4
|
Consent of Steven J. Nicholls, BA.Sc., MAIG
|
|
23.5
|
Consent of Steven R. Koehler, B.Sc., QP, CPG
|
|
23.6
|
Consent of Gary Simmons , B.SC., QP, MMSA
|
|
24.1
|
Power of Attorney
|
1.
|
Objectives
|
2.
|
Definitions
|
2.1
|
As used in the Plan, the terms set forth below shall have the following respective meanings:
|
(a)
|
"Affiliate", means an affiliate as defined in the Securities Act and includes issuers that are similarly related, whether or not any of the issuers are companies, partnerships, limited partnerships, trusts, income trusts or investment trusts or any other organized entity issuing securities;
|
(b)
|
"Associate" means an associate as defined in the Securities Act;
|
(c)
|
"Black Out Period" means a temporary period during which Optionees may not exercise their Options;
|
(d)
|
"Board" means the board of directors of the Company;
|
(e)
|
"Change in Control" means:
|
(i)
|
any merger or amalgamation in which voting securities of the Company possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction;
|
(ii)
|
any acquisition, directly or indirectly, by a person or Related Group of Persons (other than a person that is a registered dealer as described in Section 2.1(aa)(iii) and other than the Company or a person that directly or indirectly controls, is controlled by, or is under common control with, the Company) of beneficial ownership of voting securities of the Company possessing more than fifty percent (50%) of the total combined voting power of the Company's outstanding securities;
|
(iii)
|
any acquisition, directly or indirectly, by a person or Related Group of Persons of the right to appoint a majority of the directors of the Company or otherwise directly or indirectly control the management, affairs and business of the Company;
|
(iv)
|
any sale, transfer or other disposition of all or substantially all of the assets of the Company;
|
(v)
|
a complete liquidation or dissolution of the Company; or
|
(vi)
|
any transaction or series of transactions involving the Company or any of its Affiliates that the Board in its discretion deems to be a Change in Control;
|
(f)
|
"Committee" means the Compensation Committee of the Board or such other committee of the Board to which the Board has delegated responsibility for administration of the Plan or, if the Board has not made such delegation, "Committee" shall mean the Board;
|
(g)
|
"Company" means Gold Standard Ventures Corp., a company existing under the Business Corporations Act (British Columbia);
|
(h)
|
"Consultant" means, in relation to the Company, an individual or Consultant Company, other than an Employee or a Director/Officer of the Company, that:
|
(i)
|
is engaged to provide on an ongoing bona fide basis, consulting, technical, management or other services to the Company or to an Affiliate of the Company, other than services provided in relation to a distribution of securities;
|
(ii)
|
provides the services under a written contract between the Company or the Affiliate of the Company and the individual or the Consultant Company;
|
(iii)
|
in the reasonable opinion of the Company, spends or will spend a significant amount of time and attention on the affairs and business of the Company or an Affiliate of the Company; and
|
(iv)
|
has a relationship with the Company or an Affiliate of the Company that enables the individual to be knowledgeable about the business and affairs of the Company.
|
(i)
|
"Consultant Company" means, for an individual Consultant, a company or partnership of which the individual is an employee, shareholder or partner;
|
(j)
|
"Date of Grant" means the date an Option is granted by the Committee to the Optionee, subject to any regulatory or other approvals or conditions;
|
(k)
|
"Directors/Officers" means directors, senior officers or Management Company Employees of the Company or any subsidiary of the Company;
|
(l)
|
"Employee" means:
|
(i)
|
an individual who is considered an employee of the Company or its subsidiary under the Income Tax Act (Canada);
|
(ii)
|
an individual who works full‑time for the Company or its subsidiary providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions are not made at source; or
|
(iii)
|
an individual who works for the Company or its subsidiary on a continuing and regular basis for a minimum amount of time per week providing services normally provided by an employee and who is subject to the same control and direction by the Company over the details and methods of work as an employee of the Company, but for whom income tax deductions are not made at source;
|
(m)
|
"Exchange" means:
|
(i)
|
the TSX-V if the Shares are listed on the TSX-V;
|
(ii)
|
the TSX if the Shares are listed on the TSX; and
|
(iii)
|
if the Shares are not listed on the TSX-V or the TSX, any other stock exchange on which the Shares are listed (if the Shares are traded on more than one stock exchange, then the stock exchange on which a majority of Shares are traded).
|
(n)
|
"Insider" in relation to the Company means:
|
(i)
|
a director or senior officer of the Company;
|
(ii)
|
a director or senior officer of a company that is an Insider or subsidiary of the Company; or
|
(iii)
|
a person that beneficially owns or controls, directly or indirectly, Shares carrying more than 10% of the voting rights attached to all outstanding Shares
|
(o)
|
"Insider Participation Limit" has the meaning ascribed thereto in Section 6.3;
|
(p)
|
"Investor Relations Activities" means any activities, by or on behalf of the Company or a shareholder of the Company, that promote or reasonably could be expected to promote the purchase or sale of securities of the Company, except for such activities that the Exchange specifically states to not be Investor Relations Activities;
|
(q)
|
"Management Company Employee" means an individual employed by an entity providing management services to the Company, which are required for the ongoing successful operation of the business enterprise of the Company, but excluding an entity engaged in Investor Relations Activities;
|
(r)
|
"Market Price" in relation to a Share subject to an Option on the Date of Grant of the Option means:
|
(i)
|
if the Company is listed on the TSX-V, the last closing price of the Shares on the TSX-V before such Date of Grant;
|
(ii)
|
if the Company is listed on the TSX, the volume weighted average trading price of the Shares for the five trading days (on which at least one board lot of the Shares was traded) before such Date of Grant on the TSX; or
|
(iii)
|
if the Shares are not listed on the TSX-V or the TSX, the volume weighted average trading price of the Shares for the five trading days (on which at least one board lot of the Shares was traded) before such Date of Grant on such other stock exchange or securities market on which Shares are listed as is selected by the Board.
|
(s)
|
"Merger and Acquisition Transaction" means:
|
(i)
|
any merger;
|
(ii)
|
any acquisition;
|
(iii)
|
any amalgamation;
|
(iv)
|
any offer for Shares which if successful would entitle the offeror to acquire all of the voting securities of the Company; or
|
(v)
|
any arrangement or other scheme of reorganization;
|
(t)
|
"Option" means an option to purchase Shares granted under or subject to the terms of the Plan, including the Pre-Plan Options;
|
(u)
|
"Option Agreement" means a written agreement between the Company and an Optionee that sets forth the terms, conditions and limitations applicable to an Option;
|
(v)
|
"Option Period" means the period during which an Option may be exercised;
|
(w)
|
"Optionee" means a person to whom an Option has been granted under the terms of the Plan or who holds an Option that is otherwise subject to the terms of the Plan;
|
(x)
|
"Plan" means this Stock Option Plan of the Company;
|
(y)
|
"Pre-Plan Options" has the meaning set forth in Section 4.2;
|
(z)
|
"Related Group of Persons" in respect of a person means:
|
(i)
|
the person together with any one or more of the person's Associates or Affiliates; and
|
(ii)
|
any two or more persons who have an agreement, commitment or understanding, whether formal or informal, with respect to:
|
(A)
|
the acquisition of or the intention to acquire, directly or indirectly, beneficial ownership of, or control and direction over, voting securities of the Company; or
|
(B)
|
the exercise of voting rights attached to the securities of the Company beneficially owned by such persons, or over which such persons have control and direction, on matters regarding the appointment of directors or control of the management, affairs and business of the Company;
|
(iii)
|
despite the above Section 2.1(z)(ii)(A), a registered dealer acting solely in an agency capacity for a person or Related Group of Persons in connection with the acquisition of beneficial ownership of, or control and direction over, securities of the Company, and not executing principal transactions for its own account or performing services beyond customary dealer's functions, shall not be deemed solely by reason of such agency relationship to be a related person for the purposes of the definition of Related Group of Persons;
|
(aa)
|
"Securities Act" means the Securities Act (British Columbia), as amended from time to time;
|
(bb)
|
"Shares" means common shares in the capital of the Company;
|
(cc)
|
"TSX-V" means the TSX Venture Exchange (or any successor stock exchange thereof); and
|
(dd)
|
"TSX" means the Toronto Stock Exchange (or any successor stock exchange thereof).
|
3.
|
Administration of the Plan
|
3.1
|
The Plan shall be administered by the Committee. With respect to Option grants to directors of the Company, the Board shall serve as the Committee. With respect to any other Options the Board may specifically constitute a committee of two or more directors of the Company as the Board may designate from time to time to serve as the Committee for the Plan, all of the members of which shall be and remain directors of the Company. Notwithstanding the foregoing, the Board may resolve to be the Committee to administer the Plan with respect to all of the Plan or certain participants and/or awards made or to be made under the Plan.
|
3.2
|
The Committee shall have full and exclusive power to interpret the Plan, to adopt such rules, regulations and guidelines for carrying out the Plan as it may deem necessary or proper, all of which powers shall be exercised in the best interests of the Company and in keeping with the objectives of the Plan, and to reserve and issue Shares issuable pursuant to the exercise of Options. The Committee may, in its discretion but subject to any necessary approvals of any stock exchange or regulatory body having jurisdiction over the securities of the Company, provide for the extension of the exercisability of an Option, accelerate the vesting or exercisability of any Option, eliminate or make less restrictive any restrictions contained in an Option, waive any restriction or other provision of the Plan or an Option or otherwise amend or modify an Option in any manner that is either (a) not adverse to the Optionee holding such Option or (b) consented to
|
|
by such Optionee. The Committee may correct any defect or supply any omission or reconcile any inconsistency in the Plan or in any Option in the manner and to the extent the Committee deems necessary or desirable to carry it into effect. Any decision of the Committee in the interpretation and administration of the Plan shall lie within its sole and absolute discretion and shall be final, conclusive and binding on all parties concerned. No member of the Committee shall be liable for anything done or omitted to be done by such member, by any member of the Committee or by any officer of the Company in connection with the performance of any duties under the Plan, except for such member's own wilful misconduct or as expressly provided by statute.
|
3.3
|
All administrative costs of the Plan shall be paid by the Company.
|
4.
|
Eligibility
|
4.1
|
Options may be granted to Employees, Directors/Officers and Consultants (and Consultant Companies as may be permitted by the Exchange) who are in the opinion of the Committee in a position to contribute to the success of the Company or any of its Affiliates or who, by virtue of their service to the Company or any predecessors thereof or to any of its Affiliates are, in the opinion of the Committee, worthy of special recognition. The granting of Options is entirely discretionary and nothing in this Plan shall be deemed to give any person any right to participate in this Plan or to be granted an Option and designation of an Optionee in any year shall not require the designation of such person to receive an Option in any other year. The Committee shall consider such factors as it deems pertinent in selecting participants and in determining the amount and terms of their respective Options.
|
4.2
|
Any options previously granted by the Company (the "Pre‑Plan Options") which remain outstanding as at the effectiveness of the Plan will be deemed to have been issued under and will be governed by the terms of the Plan and, in the event of any inconsistency between the terms of the agreements governing the Pre‑Plan Options and the terms of the Plan, the terms of such agreements shall govern. Any Shares issuable upon exercise of the Pre‑Plan Options will be included for the purpose of calculating the amounts set out in Sections 5 and 6 hereof.
|
4.3
|
Subject to any applicable regulatory approvals, Options may also be granted under the Plan in exchange for outstanding options granted by the Company or any predecessor company thereof or any Affiliate thereof, whether such outstanding options are granted under the Plan, under any other stock option plan of the Company or any predecessor company or any Affiliate thereof, or under any stock option agreement with the Company or any predecessor corporation or Affiliate thereof.
|
4.4
|
Subject to any applicable regulatory approvals, Options may also be granted under the Plan in substitution for outstanding options of another company in connection with a plan of arrangement or exchange, amalgamation, merger, consolidation, acquisition of property or shares, or other reorganization between or involving such other company and the Company or any of its subsidiaries.
|
5.
|
Number of Shares Reserved under the Plan
|
(a)
|
if any Shares covered by an Option subject to the Plan are forfeited, or if an Option has expired, terminated or been cancelled for any reason whatsoever, then the Shares covered by such Option shall again be, or shall become, Shares with respect to which Options may be granted hereunder, and
|
(b)
|
such maximum number of Shares shall be appropriately adjusted in the event of any subdivision or consolidation of the Shares.
|
6.
|
Number of Optioned Shares per Optionee
|
6.1
|
The determination regarding the number of Shares that may be the subject of Options granted to each Optionee pursuant to an Option will be made by the Committee and will take into consideration the Optionee's present and potential contribution to the success of the Company and applicable legal and regulatory requirements.
|
6.2
|
For so long as the Company is listed on the TSX-V, grants under the Plan shall be subject to the following limitations:
|
(a)
|
Subject to Sections 6(b) and 6(c), the aggregate number of Shares that may be reserved for issuance pursuant to the Plan, or as incentive stock options, to any one Optionee in a 12‑month period must not exceed 5% of the issued and outstanding Shares (determined at the Date of Grant), unless, as may be required by the TSX-V, disinterested shareholder approval is obtained;
|
(b)
|
The number of Shares subject to Options granted to any one Consultant in a 12‑month period must not exceed 2% of the issued and outstanding Shares (determined at the Date of Grant);
|
(c)
|
The aggregate number of Shares subject to Options granted to all Optionees who are employed to provide Investor Relations Activities must not exceed 2% of the issued and outstanding Shares in any 12‑month period (determined at the Date of Grant);
|
(d)
|
The number of Options granted to Insiders within a 12-month period to acquire Shares reserved for issuance under the Plan must not exceed 10% of the issued and outstanding Shares, unless, as may be required by the TSX-V, disinterested shareholder approval is obtained; and
|
(e)
|
Subject to any longer vesting period as may be set out in the related Option Agreement, an Option granted to a Consultant performing Investor Relations Activities shall vest in stages over 12 months with no more than 25% of the Shares subject to the Option vesting in any three‑month period
|
6.3
|
For so long as the Company is listed on the TSX, grants under the Plan shall be subject to the following limitations (collectively, the "Insider Participation Limit"):
|
(a)
|
Shares issuable to Insiders under the Plan at any time, when combined with all of the Company's other security based compensation arrangements, shall not exceed 10% of the issued and outstanding Shares; and
|
(b)
|
Shares issued to Insiders under the Plan, when combined with all of the Company's other security based compensation arrangements, shall not exceed 10% of the issued and outstanding Shares in any 12 month period.
|
7.
|
Price
|
7.1
|
The exercise price per Share subject to an Option shall be determined by the Committee at the time the Option is granted, provided that the exercise price shall not be less than the Market Price less applicable discounts permitted by the Exchange, or such other minimum exercise price as may be required by the Exchange.
|
7.2
|
Subject to applicable regulatory requirements and approval, the Committee may reprice the prevailing exercise price of an Option. Any reduction in the exercise price of an Option held by an Optionee who is an Insider at the time of the proposed amendment is, however, subject to disinterested shareholder approval if and as required by the Exchange.
|
8.
|
Term and Exercise of Options
|
8.1
|
The Option Period shall be determined by the Committee at the time the Option is granted and may be up to five years from the Date of Grant. The Option Period is also subject to reduction pursuant to the provisions of Article 10. Subject to the applicable maximum Option Period provided for in this Section 8.1 and subject to applicable regulatory requirements and approvals, the Committee may extend the Option Period for an Option. Notwithstanding anything contained herein, if the Option Period expires during a Black Out Period or within 2 business days of a Black Out Period, the Option Period shall be extended to 10 days from the end of the Black Out Period.
|
8.2
|
Subject to Subsection 6.2(e), the vesting schedule for each Option shall be determined by the Committee at the time the Option is granted and shall be specified in the Option Agreement in respect of the Option.
|
8.3
|
Notwithstanding the foregoing provision of this Article 8, if there is a takeover bid or tender offer made for all or any of the issued and outstanding Shares, then the Committee may, by resolution, permit all Options outstanding to become immediately exercisable in order to permit the Shares issuable under such Options to be tendered to such bid or offer.
|
8.4
|
The vested portion of Options will be exercisable, either all or in part, at any time after vesting. If less than all of the Shares included in the vested portion of any Option are purchased, the remainder may be purchased, subject to the Option's terms, at any subsequent time prior to the expiration of the Option Period.
|
8.5
|
The exercise of any Option will be contingent upon receipt by the Company of payment for the full exercise price of the Shares being purchased in cash by way of certified cheque or bank draft. No Optionee or the legal representatives, legatees or distributees of the Optionee will be, or will be deemed to be, a holder of any Shares subject to an Option under the Plan unless and until certificates for such Shares are issued to the Optionee or such other persons under the terms of the Plan.
|
9.
|
Stock Option Agreement
|
10.
|
Effect of Termination of Employment or Death
|
10.1
|
Options granted to any Optionee who is a Director/Officer, Employee, Consultant or Management Company Employee shall expire on the earlier of: (a) such date within a reasonable period of time, not to exceed one year, after the Optionee ceases to be in at least one of such categories as provided for in the Option Agreement with the Optionee, and (b) the expiry of the Option Period.
|
10.2
|
Notwithstanding Section 10.1, in the event of the death of an Optionee while in service to the Company, each outstanding Option to the extent not previously exercised (including in respect of the right to purchase Shares not otherwise vested at such time) shall be exercisable until the earlier of (a) the expiration of one year following such death unless an earlier date is provided for in the Option Agreement with the Optionee,
|
|
and (b) the expiry of the Option Period, but only by the person or persons to whom the Optionee's rights under the Option shall pass by the Optionee's will or by the laws of descent and distribution.
|
10.3
|
Notwithstanding the foregoing provisions of this Article 10 and subject to any applicable regulatory requirements and approvals, the Committee may, in its discretion, provide for the extension of the exercisability of an Option for any period that is not beyond the applicable expiration date thereof, accelerate the vesting or exercisability of an Option, eliminate or make less restrictive any restrictions governing an Option, waive any restriction or other provision of this Plan or an Option or otherwise amend or modify the Option in any manner that is either (a) not adverse to such Optionee or (b) consented to by such Optionee.
|
11.
|
Adjustment in Shares Subject to the Plan
|
11.1
|
The exercise price for and the number of Shares covered by an Option will be adjusted, with respect to the then unexercised portion thereof, by the Committee from time to time (on the basis of such advice as the Committee considers appropriate, including, if considered appropriate by the Committee, a certificate of the auditor of the Company) in the event and in accordance with the provisions and rules set out in this Article 11. Any dispute that arises at any time with respect to any adjustment pursuant to such provisions and rules will be conclusively determined by the Committee, and any such determination will be binding on the Company, the optionee and all other affected parties.
|
(a)
|
In the event that a dividend is declared upon the Shares, payable in Shares (other than in lieu of dividends paid in the ordinary course), the number of Shares then subject to any Option shall be adjusted by adding to each such Share the number of Shares which would be distributable thereon if such Share had been outstanding on the date fixed for determining shareholders entitled to receive such stock dividend.
|
(b)
|
In the event that the outstanding Shares are changed into or exchanged for a different number or kind of Shares or other securities of the Company or of another corporation, whether through an arrangement, amalgamation or other similar procedure or otherwise, or a share recapitalization, subdivision or consolidation, then there shall be substituted for each Share subject to any Option the number and kind of Shares or other securities of the Company or another corporation into which each outstanding Share shall be so changed or for which each such Share shall be exchanged.
|
(c)
|
In the event that there is any change, other than as specified above in this Article 11, in the number or kind of outstanding Shares or of any securities into which such Shares shall have been changed or for which they shall have been exchanged, then, if the Committee, in its sole discretion, determines that such change equitably requires an adjustment to be made in the number or kind of Shares then subject to any Option, an equitable adjustment shall be made in the number or kind of Shares, such adjustment shall be made by the Committee and be effective and binding for all purposes.
|
(d)
|
In the event that the Company distributes by way of a dividend, or otherwise, to all or substantially all holders of Shares, property, evidences of indebtedness or shares or other securities of the Company (other than Shares) or rights, options or warrants to acquire Shares or securities convertible into or exchangeable for Shares or other securities or property of the Company, other than as a dividend in the ordinary course, then, if the Committee, in its sole discretion, determines that such action equitably requires an adjustment in the exercise price of the Option or number of Shares subject to any Option, or both, such adjustment shall be made by the Committee and shall be effective and binding for all purposes.
|
11.2
|
In the case of any such substitution or adjustment as provided for in this Article 11, the exercise price in respect of each Option for each Share covered thereby prior to such substitution or adjustment will be proportionately and appropriately varied, such variation shall generally require that the number of Shares or securities covered by the Option after the relevant event multiplied by the varied option exercise price be
|
|
equal to the number of Shares covered by the Option prior to the relevant event multiplied by the original exercise price of the Option.
|
11.3
|
No adjustment or substitution provided for in this Article 11 shall require the Company to issue a fractional share in respect of any Option. Fractional shares shall be eliminated.
|
11.4
|
The grant of an Option shall not affect in any way the right or power of the Company to effect adjustments, reclassifications, reorganizations, arrangements or changes of its capital or business structure, or to amalgamate, merge, consolidate, dissolve or liquidate, or to sell or transfer all or any part of its business or assets
|
11.5
|
In the event of a Merger and Acquisition Transaction or proposed Merger and Acquisition Transaction, the Committee shall determine in an appropriate and equitable manner:
|
(a)
|
any adjustment to the number and type of Shares that thereafter shall be made the subject of Options; and
|
(b)
|
the number and type of Shares subject to outstanding Options; and
|
(c)
|
the manner in which all unvested Options granted under this Plan will be treated including, without limitation, requiring the acceleration of the time for the vesting of such Options by the participants, the time for the fulfilment of any conditions or restrictions on such vesting, and the time for the expiry of such Options.
|
11.6
|
Notwithstanding anything else in this Plan, any unvested Options issued to a participant at the time of a Merger and Acquisition Transaction shall immediately vest if either (i) the participant is either terminated without cause or resigns with good reason (as such term has been defined under common law, including any reason that would be considered to amount to constructive dismissal by a court of competent jurisdiction) from their position with the Company within the period ending 12 months from the date of the completion of the Merger and Acquisition Transaction, or (ii) the Committee, acting reasonably, determines that an adjustment to the number and type of Shares resulting from a Merger and Acquisition Transaction is impractical or impossible. In the event this Section 11.6 is applicable, the Committee shall, acting reasonably, determine the extent to which the Participant met the conditions for vesting of Options.
|
12.
|
Non-Assignability
|
13.
|
Employment
|
14.
|
Record Keeping
|
(a)
|
the name and address of each Optionee;
|
(b)
|
the number of Shares subject to Options granted to each Optionee, the number of Shares issued to each Optionee upon the exercise of Options, and the number of Shares subject to Options remaining outstanding;
|
(c)
|
a copy of each outstanding Option Agreement; and
|
(d)
|
such other information as the Committee may determine.
|
15.
|
Regulatory Approvals
|
15.1
|
The Plan is subject to the approval of regulatory authorities having, or which may have, jurisdiction over the securities of the Company, and the Board is authorized to amend the text thereof from time to time in order to comply with any changes thereto required by such applicable regulatory authorities.
|
15.2
|
The obligation of the Company to issue and deliver Shares in accordance with the Plan is subject to the approval of any governmental authority having jurisdiction or any stock exchange or stock quotation system on which the Shares are listed for trading or quoted which may be required in connection with the authorization, issuance or sale of such Shares by the Company. If any Shares cannot be issued to any Optionee for any reason including, without limitation, the failure to obtain such approval, then the obligation of the Company to issue such Shares shall terminate and any exercise price for an Option paid to the Company shall be returned to the Optionee.
|
16.
|
Hold Periods, Securities Regulation and Tax Withholding
|
16.1
|
If and for so long as the Company is listed on the TSX-V and in addition to any resale restrictions under applicable securities laws, for Options issued by the Company to Insiders or Options having an exercise price per Share that is less than the Market Price, any Options, or Shares issued on the exercise of such Options, will be subject to a four‑month hold period commencing on the particular Date of Grant of the Option, and certificates for the Shares will bear a restrictive legend setting out any such applicable hold period.
|
16.2
|
Where necessary to effect exemption from registration or distribution of the Shares under securities laws applicable to the securities of the Company, an Optionee shall be required, upon the acquisition of any Shares upon the exercise of Options, to acquire such Shares with investment intent (i.e. for investment purposes) and not with a view to their distribution, and to present to the Committee an undertaking to that effect in a form acceptable to the Committee. The Committee may cause a legend or legends to be placed upon any certificates for the Shares to make appropriate reference to applicable resale restrictions. The Committee may take such other action or require such other action or agreement by such Optionee as may from time to time be necessary to comply with applicable securities laws. This provision shall in no way obligate the Company to undertake the registration or qualification of any Options or the underlying Shares under any securities laws applicable to the securities of the Company.
|
16.3
|
The Committee and the Company may take all such measures as they deem appropriate to ensure that the Company's obligations under the withholding provisions under income tax laws applicable to the Company and other provisions of applicable laws are satisfied with respect to the issuance of Shares pursuant to the Plan or the grant or exercise of Options under the Plan. Without limiting the generality of the foregoing, the Company may, as a condition to the exercise of any Option, require that the Optionee pay to the Company, concurrently with the payment of the full exercise price of the Shares being purchased, by way of certified cheque or bank draft, an amount in cash equal to any withholding taxes that the Company is required to remit to the Canada Revenue Agency on account of payroll withholding obligations (including, but not limited to, income tax, UIC and/or CPP) as a result of the exercise of the Option by the Optionee.
|
16.4
|
Issuance, transfer or delivery of certificates for Shares purchased pursuant to the Plan may be delayed, at the discretion of the Committee, until the Committee is satisfied that the applicable requirements of securities and income tax laws have been met.
|
17.
|
Amendment and Termination of Plan
|
17.1
|
The Board reserves the right to amend or terminate the Plan at any time if and when it is advisable in the absolute discretion of the Board; provided, however, that no such amendment or termination shall adversely affect any outstanding Options granted under the Plan without the consent of the Optionee. Any amendment to the Plan shall also be subject to any necessary approvals of any stock exchange or regulatory body having jurisdiction over the securities of the Company and, where applicable, the approval of the shareholders of the Company.
|
17.2
|
The types of amendments that do not require the approval of the shareholders of the Company include, but are not limited to:
|
(a)
|
amendments of a ''housekeeping'' nature, including those required to clarify any ambiguity or rectify any inconsistency in the Plan;
|
(b)
|
amendments made pursuant to Section 17.1 hereof to comply with any changes required by applicable regulatory authorities having jurisdiction over securities of the Company from time to time including, but not limited to, the Exchange or other mandatory provisions of applicable law;
|
(c)
|
amendments which are advisable to accommodate changes in tax laws;
|
(d)
|
the extension of accelerated expiry dates to, but not beyond, the expiry date originally set at the time of the Option grant;
|
(e)
|
amendments to the vesting provisions of any Option granted under the Plan; and
|
(f)
|
amendments to the terms of Options in order to maintain Option value in connection with an adjustment in the Shares of the Company as contemplated in Section 11 hereof.
|
17.3
|
Notwithstanding the provisions of Section 17.2, the Board may not, without the prior approval of the shareholders of the Company, make amendments to the Plan for any of the following purposes:
|
(a)
|
to increase the maximum number of Shares issuable under the Plan as set out in Section 5;
|
(b)
|
subject to Section 17.4, to reduce the exercise price of any outstanding Options held by an Insider;
|
(c)
|
subject to Section 17.4, to extend the Option Period of any outstanding Options held by an Insider, except where the Option Period is extended because it would have occurred during a Black Out Period;
|
(d)
|
subject to Section 17.4, to remove or to exceed the Insider Participation Limit;
|
(e)
|
to amend the Plan to permit the grant of an Option with an Option Period of more than 5 years from the Date of Grant;
|
(f)
|
to amend the non-assignability provision contained in Section 12 hereof, except as otherwise permitted by the Exchange or for estate planning or estate settlement purposes;
|
(g)
|
to expand the class of Optionees to whom Options may be granted under the Plan; and
|
(h)
|
to amend this Section 17.3.
|
17.4
|
Consent to Amend
|
17.5
|
Amendment Subject to Approval
|
18.
|
No Representation or Warranty
|
19.
|
General Provisions
|
19.1
|
Nothing contained in the Plan shall prevent the Company or any of its Affiliates from adopting or continuing in effect other compensation arrangements, which may, but need not, provide for the issuance of securities of the Company (subject to shareholder approval if such approval is required by applicable securities regulatory authorities) and such arrangements may be either generally applicable or applicable only in specific cases.
|
19.2
|
The validity, construction and effect of the Plan and any rules and regulations relating to the Plan and any option agreement, and all determinations made and actions taken pursuant hereto shall be governed by and determined in accordance with the laws of the Province of British Columbia, Canada.
|
19.3
|
If any provision of the Plan or any Option is or becomes or is deemed to be invalid, illegal or unenforceable in any jurisdiction or as to any person or Option, or would disqualify the Plan or any Option under any law deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Option, such provision shall be stricken as to such jurisdiction, person or Option and the remainder of the Plan and any such Option shall remain in full force and effect.
|
19.4
|
Neither the Plan nor any Option shall create or be construed to create a trust or separate fund of any kind or a fiduciary relationship between the Company or any of its Affiliates and an Optionee or any other person.
|
19.5
|
Headings are given to the Sections of the Plan solely as a convenience to facilitate reference. Such headings shall not be deemed in any way material or relevant to the construction or interpretation of the Plan or any provision thereof.
|
19.6
|
All outstanding stock options, including Options, shall be governed by and subject to the terms of the Company's stock option plan in force as of the date of grant of such stock option.
|
20.
|
Effective Date of the Plan
|
20.1
|
Subject to the ratification and approval of the Plan by the shareholders of the Company and all necessary regulatory approvals pursuant to Section 15 hereof, the Plan will be effective as of the 28th day of June, 2011.
|
ARTICLE 1 PURPOSE OF THIS PLAN
|
1
|
ARTICLE 2 DEFINITIONS
|
1
|
ARTICLE 3 EFFECTIVE DATE OF PLAN
|
4
|
ARTICLE 4 ADMINISTRATION OF PLAN
|
4
|
ARTICLE 5 SHARES AVAILABLE FOR AWARDS
|
5
|
ARTICLE 6 GRANT OF AWARDS
|
5
|
ARTICLE 7 ELIGIBILITY
|
6
|
ARTICLE 8 RESTRICTED AWARD GRANTS
|
6
|
ARTICLE 9 GENERAL TERMS OF RESTRICTED AWARDS
|
7
|
ARTICLE 10 CHANGE IN STATUS
|
7
|
ARTICLE 11 NON-TRANSFERABILITY OF RESTRICTED AWARDS
|
7
|
ARTICLE 12 REPRESENTATIONS AND COVENANTS OF PARTICIPANTS
|
7
|
ARTICLE 13 WITHHOLDING TAX
|
8
|
ARTICLE 14 CONDITIONS
|
8
|
ARTICLE 15 SUSPENSION, AMENDMENT OR TERMINATION OF PLAN
|
8
|
ARTICLE 16 ADJUSTMENTS
|
9
|
ARTICLE 17 GENERAL
|
10
|
(a)
|
furnishing certain directors, officers, and employees of GSV or its Affiliates with greater incentive to develop and promote the business and financial success of GSV;
|
(b)
|
aligning the interests of persons to whom Awards may be granted with those of the shareholders of GSV generally through a proprietary ownership interest in GSV; and
|
(c)
|
assisting GSV in attracting, retaining and motivating its directors, officers, and employees.
|
(a)
|
"Affiliate" means an affiliate as defined in the Securities Act and includes issuers that are similarly related, whether or not any of the issuers are companies, partnerships, limited partnerships, trusts, income trusts or investment trusts or any other organized entity issuing securities;
|
(b)
|
"Applicable Withholding Taxes" means all taxes and other source deductions or other amounts which GSV or an Affiliate of GSV is or may be required by law to withhold in respect of the Plan or in respect of a Restricted Award, including in respect of the issuance transfer, amendment or vesting of a Restricted Award or the issuance of Shares thereunder;
|
(c)
|
"Associate" means an associate as defined in the Securities Act;
|
(d)
|
"Award Agreement" means any written agreement, contract or other instrument or document evidencing any Restricted Award granted under this Plan. Each Award Agreement shall be subject to the applicable terms and conditions of this Plan and any other terms and conditions (not inconsistent with this Plan) determined by the Compensation Committee;
|
(e)
|
"Blackout Period" means an interval of time during which GSV has determined that one or more Participants may not trade any securities of GSV because they may be in possession of undisclosed material information pertaining to GSV;
|
(f)
|
"Board" means the board of directors of GSV as constituted from time to time;
|
(g)
|
"Change in Control" means:
|
(i)
|
any merger or amalgamation in which voting securities of GSV possessing more than fifty percent (50%) of the total combined voting power of GSV's outstanding securities are transferred to a person or persons different from the persons holding those securities immediately prior to such transaction;
|
(ii)
|
any acquisition, directly or indirectly, by a person or Related Group of Persons (other than a person that is a registered dealer as described in Section 2.1(s)(iii) and other than GSV or a person that directly or indirectly controls, is controlled by, or is under common control with, GSV) of beneficial ownership of voting securities of GSV possessing more than fifty percent (50%) of the total combined voting power of GSV's outstanding securities;
|
(iii)
|
any acquisition, directly or indirectly, by a person or Related Group of Persons of the right to appoint a majority of the directors of GSV or otherwise directly or indirectly control the management, affairs and business of GSV;
|
(iv)
|
any sale, transfer or other disposition of all or substantially all of the assets of GSV;
|
(v)
|
a complete liquidation or dissolution of GSV; or
|
(vi)
|
any transaction or series of transactions involving GSV or any of its Affiliates that the Board in its discretion deems to be a Change in Control;
|
(vii)
|
the issuance, in connection with a bona fide financing or series of financings by GSV or any of its Affiliates, of voting securities of GSV or any of its Affiliates or any rights to acquire voting securities of GSV or any of its Affiliates which are convertible into voting securities; or
|
(viii)
|
a transaction or series of transactions involving GSV or any of its Affiliates whereby the holders of the voting securities of GSV continue to hold voting securities in the capital of the surviving or successor entity in substantially the same proportion as such holders held voting securities in GSV immediately prior to the commencement of such transaction or series of transactions.
|
(h)
|
"Compensation Committee" means the Compensation Committee of the Board or such other committee of the Board to which the Board has delegated responsibility for administration of the Plan or, if the Board has not made such delegation, "Compensation Committee" shall mean the Board;
|
(i)
|
"Effective Date" has the meaning ascribed thereto by Section 3.1 of this Plan;
|
(j)
|
"Eligible Person" means director, officer, or employee of GSV or its Affiliates;
|
(k)
|
"Exchange" means the TSX Venture Exchange, or such stock exchanges or other organized markets on which the Shares are listed or posted for trading;
|
(l)
|
"GSV" means Gold Standard Ventures Corp.;
|
(m)
|
"Insider" in relation to GSV means:
|
(i)
|
a director or senior officer of GSV;
|
(ii)
|
a director or senior officer of a company that is an Insider or subsidiary of GSV; or
|
(iii)
|
a person that beneficially owns or controls, directly or indirectly, Shares carrying more than 10% of the voting rights attached to all Outstanding Shares.
|
(n)
|
"Merger and Acquisition Transaction" means:
|
(i)
|
any merger;
|
(ii)
|
any acquisition;
|
(iii)
|
any amalgamation;
|
(iv)
|
any offer for Shares which if successful would entitle the offeror to acquire all of the voting securities of GSV; or
|
(v)
|
any arrangement or other scheme of reorganization;
|
(o)
|
"Outstanding Shares" at the time of any issuance of Shares means the number of Shares that are outstanding immediately prior to the issue of the Shares in question, on a non-diluted basis, or such other number as may be determined under the applicable rules and regulations of all regulatory authorities to which GSV is subject, including the Exchange;
|
(p)
|
"Participant" means an Eligible Person designated to be granted an Award under this Plan;
|
(q)
|
"Permitted Assign" in respect of a Participant means:
|
(i)
|
an executor or administrator for the estate of the Participant upon the death of the Participant, or
|
(ii)
|
a committee or duly appointed attorney of the Participant, upon the Participant becoming incapable, by reason of physical or mental infirmity, of managing his or her affairs.
|
(r)
|
"Plan" means this plan, as the same may from time to time be supplemented or amended and in effect;
|
(s)
|
"Related Group of Persons" in respect of a person means:
|
(i)
|
the person together with any one or more of the person's Associates or Affiliates; and
|
(ii)
|
any two or more persons who have an agreement, commitment or understanding, whether formal or informal, with respect to:
|
(i)
|
the acquisition of or the intention to acquire, directly or indirectly, beneficial ownership of, or control and direction over, voting securities of GSV; or
|
(ii)
|
the exercise of voting rights attached to the securities of GSV beneficially owned by such persons, or over which such persons have control and direction, on matters regarding the appointment of directors or control of the management, affairs and business of GSV;
|
(iii)
|
despite the above Section 2.1(s)(ii)(i), a registered dealer acting solely in an agency capacity for a person or Related Group of Persons in connection with the acquisition of beneficial ownership of, or control and direction over, securities of GSV, and not executing principal transactions for its own account or performing services beyond customary dealer's functions, shall not be deemed solely by reason of such agency relationship to be a related person for the purposes of the definition of Related Group of Persons; and
|
(t)
|
"Restricted Award" means restricted share unit award granted pursuant to Section 8.1, for which the form of Award Agreement is attached hereto as Schedule "A";
|
(u)
|
"Securities Act" means the Securities Act (British Columbia), as amended from time to time;
|
(v)
|
"Shares" means the common shares in the capital of GSV; and
|
(w)
|
"Shareholder" means a holder of Shares.
|
(a)
|
the number of Shares reserved for issuance to any one Participant pursuant to this Plan combined with all of GSV's other security based arrangements, including GSV's stock option plan, within any one year period shall not, in aggregate, exceed 5% of the total number of Outstanding Shares; and
|
(b)
|
the number of Shares:
|
(i)
|
issuable, at any time, to Participants that are Insiders; and
|
(ii)
|
issued to Participants that are Insiders within any one year period;
|
(a)
|
the Participant is a director, officer or employee of GSV or its Affiliates or a person otherwise determined as an Eligible Person under this Plan by the Compensation Committee;
|
(b)
|
the Participant has not been induced to enter into such Award Agreement by the expectation of employment or continued employment with GSV or its Affiliates;
|
(c)
|
the Participant is aware that the grant of the Restricted Award and the issuance by GSV of Shares thereunder are exempt from the obligation under applicable securities laws to file a prospectus or other registration document qualifying the distribution of the Restricted Awards of the Shares to be distributed thereunder under any applicable securities laws.
|
(a)
|
completion of such registration or other qualification of such Shares or obtaining approval of such governmental authority as GSV will determine to be necessary or advisable in connection with the authorization, issuance or sale thereof; and
|
(b)
|
the receipt from the Participant of such representations, agreements and undertakings, including as to future dealings in such Shares, as GSV or its counsel determines to be necessary or advisable in order to safeguard against the violation of the securities laws of any jurisdiction.
|
(a)
|
with the prior approval of disinterested Shareholders of GSV by ordinary resolution make any amendment to any Restricted Award Agreement or this Plan, including any amendment that would:
|
(i)
|
increase the number of Shares, or rolling maximum, reserved for issuance under this Plan as set out in Section 5.1;
|
(ii)
|
extend the term of a Restricted Award beyond its original expiry time;
|
(iii)
|
result in any modification to this Section 15.1; or
|
(b)
|
without the prior approval of unitholders of GSV and without limiting the generality of the foregoing, the Compensation Committee may make any other amendments not listed in (a) above to any Award Agreement or this Plan, as follows:
|
(i)
|
amendments of a clerical nature, including but not limited to the correction of grammatical or typographical errors or clarification of terms;
|
(ii)
|
amendments to reflect any requirements of any regulatory authorities to which GSV is subject, including the Exchange;
|
(iii)
|
amendments to any vesting provisions of a Restricted Award; and
|
(iv)
|
amendments to the expiration date of a Restricted Award that does not extend the term of a Restricted Award past the original date of expiration for such Restricted Award.
|
(a)
|
any adjustment to the number and type of Shares (or other securities) that thereafter shall be made the subject of Restricted Awards; and
|
(b)
|
the number and type of Shares (or other securities) subject to outstanding Restricted Awards; and
|
(c)
|
determine the manner in which all unvested Restricted Awards granted under this Plan will be treated including, without limitation, requiring the acceleration of the time for the vesting of such Restricted Awards by the Participants, the time for the fulfilment of any conditions or restrictions on such vesting, and the time for the expiry of such Restricted Awards.
|
1. |
on _________________, 20____ (the "Award Date");
|
2. |
________________________________ (the "Participant");
|
3. |
was granted _______________ Restricted Awards in respect of employment services to be rendered by the Participant to GSV or its Affiliates each of which entitles the Participant to receive one Share upon vesting, provided the following conditions are met:
|
(a)
|
[conditions of vesting to be included at time of grant.]
|
4. |
the vesting of the Restricted Awards shall occur on the following schedule:
|
5. |
GSV shall issue to the Participant all amounts receivable by the Participant all Shares receivable by the Participant pursuant to this Agreement from treasury;
|
6. |
by execution of this Agreement and acceptance of the Restricted Awards hereby granted, the Participant hereby represents and warrants to GSV that the Participant:
|
(b)
|
is director, officer or employee of GSV or its Affiliates or a person otherwise determined as an Eligible Person under this Plan by the Compensation Committee;
|
(c)
|
has not been induced to enter into such Agreement by the expectation of employment or continued employment with GSV or its Affiliates;
|
(d)
|
is aware that the grant of the Restricted Award and the issuance by GSV of Shares thereunder are exempt from the obligation under applicable securities laws to file a prospectus or other registration document
|
|
qualifying the distribution of the Restricted Awards of the Shares to be distributed thereunder under any applicable securities laws;
|
|
7. |
without restricting the generality of Section 4.5 of the Plan, GSV is expressly authorized to withhold and remit all Applicable Withholding Taxes arising as a consequence of the issuance, transfer, amendment or vesting of a Restricted Award granted pursuant to this Agreement or the issuance of Shares thereunder, (the "Applicable Withholding Taxes Amount"), in any of the following ways or any combination thereof:
|
(a)
|
by requiring the Participant, as a precondition to GSV's obligation to issue Shares from treasury, to pay to GSV in cash the Applicable Withholding Taxes Amount, to be remitted by GSV to the appropriate government authorities for the Participant's account;
|
(b)
|
by offset against any salary or other amounts otherwise due or to become due from GSV to the Participant and remitting such amounts to the appropriate government authorities for the Participant's account; and
|
(c)
|
by selling, as the Participant's agent, sufficient of the Shares issued to the Participant in payment and settlement of the Restricted Awards to raise, net of commissions and other related expenses, cash in an amount not less than the Applicable Withholding Taxes Amount and remitting the Applicable Withholding Taxes Amount to the appropriate government authorities for the Participant's account, and the Participant hereby irrevocably appoints GSV as the Participant's agent to effect such sale or sales and receive the proceeds therefrom;
|
GOLD STANDARD VENTURES CORP.
|
|
By: ______________________________________
Participant
|
By: ____________________________________
Authorized Signatory |
Vancouver, Canada
|
Chartered Professional Accountants
|
|
/s/ Michael B. Dufresne
|
|
Michael B. Dufresne, M.Sc., P.Geol, P.Geo
|
|
June 8, 2018
|
/s/ Steven J. Nicholls
|
|
Steven J. Nicholls, BA.Sc., MAIG
|
|
June 8, 2018
|
/s/ Steven R. Koehler
|
|
Steven R. Koehler, B.Sc., QP, CPG
|
|
June 8, 2018
|
/s/ Gary Simmons
|
|
Gary Simmons, B.Sc., QC, MMSA
|
|
June 8, 2018
|
Signature
|
|
Title
|
Date
|
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Jonathan Awde
|
|
President, Chief Executive Officer and
|
June 8, 2018
|
Jonathan Awde
|
|
Director (Principal Executive Officer)
|
|
|
|
|
|
/s/ Michael Waldkirch
|
|
Chief Financial Officer (Principal Financial Officer
|
June 8, 2018
|
Michael Waldkirch
|
|
and Principal Accounting Officer) |
|
|
|
|
|
|
|
|
|
/s/ D. Bruce McLeod
|
|
Lead Director
|
June 8, 2018
|
D. Bruce McLeod
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Robert McLeod
|
|
Director
|
April 26, 2018
|
Robert McLeod
|
|
|
|
|
|
|
|
|
|
|
|
/s/ Jamie Strauss
|
|
Director
|
June 8, 2018
|
Jamie Strauss
|
|
|
|
|
|
|
|
|
|
|
|
/s/ William Threlkeld
|
|
Director
|
April 30, 2018
|
William Threlkeld
|
|
|
|
|
|
|
|
/s/ Alex Morrison
|
Director and Authorized Representative in the
|
June 8, 2018
|
|
Alex Morrison
|
United States | ||
/s/ Zara Boldt
|
Director
|
June 8, 2018
|
|
Zara Boldt
|
|||
/s/ Ron Clayton
|
Director
|
June 8, 2018
|
|
Ron Clayton
|