Dalradian Resources Inc. : Conversion of Securities Dalradian Issues Stock-based Compensation
TORONTO, ONTARIO -- (Marketwired - July 3, 2017) - Dalradian Resources Inc. (TSX: DNA/AIM: DALR) ("Dalradian" or the "Company") announces that the Company issued 210,000 deferred share units ("DSUs") to directors and 1,760,000 stock options and 400,000 restricted share units ("RSUs") to its directors and officers on 30 June 2017. The DSUs were issued in accordance with the Company's DSU Plan, vest immediately and expire in accordance with the DSU Plan. The stock options, which were issued in accordance with the Company's Stock Option Plan, are exercisable into common shares of Dalradian at $1.65 (being the closing price on the Toronto Stock Exchange on 29 June 2017) over a five-year term. Vesting is immediate for 586,667 options on 30 June 2017 (the "Option Grant Date"), 586,667 options vest 12 months after the Option Grant Date and the final 586,666 options vest 24 months after the Option Grant Date. The RSUs, which were issued in accordance with the Company's RSU Plan, are redeemable as common shares after June 30, 2020 subject to the condition that the recipients remain employed by the Company, with one-sixth of the RSUs being subject to a performance condition relating to Total Shareholder Return. One RSU gives the recipient the right to one common share in the Company at nil cost to the recipient.
The following table provides a breakdown of the stock options and DSUs issued to directors:
| Directors | Stock Options | DSUs |
| Issued | Total held after grant | Issued | Total held after grant |
| Nicole Adshead-Bell | 80,000 | 530,000 | 30,000 | 72,000 |
| Patrick Downey | 80,000 | 680,000 | 30,000 | 72,000 |
| Ron Gagel | 80,000 | 730,000 | 30,000 | 72,000 |
| Thomas Obradovich | 80,000 | 830,000 | 30,000 | 72,000 |
| Sean Roosen | 80,000 | 730,000 | 30,000 | 72,000 |
| Jonathan Rubenstein | 80,000 | 830,000 | 30,000 | 72,000 |
| Jim Rutherford | 80,000 | 680,000 | 30,000 | 72,000 |
| Total | 560,000 | 5,010,000 | 210,000 | 504,000 |
The following table provides a breakdown of the stock options and RSUs issued to officers:
| Officers | Stock Options | RSUs |
| Issued | Total held after grant | Issued | Total held after grant |
| Patrick F.N. Anderson | 450,000 | 1,600,000 | 150,000 | 631,000 |
| Eric Tremblay | 300,000 | 1,050,000 | 100,000 | 394,000 |
| Keith McKay | 225,000 | 525,000 | 75,000 | 251,000 |
| Marla Gale | 225,000 | 700,000 | 75,000 | 289,000 |
| Total | 1,200,000 | 3,875,000 | 400,000 | 1,565,000 |
In addition, on 30 June 2017 the Company issued 110,000 RSUs with the same terms as described above to two employees and 425,000 stock options to six employees exercisable at $1.65, with 141,667 options vesting on 30 June 2017 (the "Employee Grant Date"), 141,667 options vesting 12 months after the Employee Grant Date and the final 141,666 options vesting 24 months after the Employee Grant Date.
The information contained within this announcement was considered to be inside information, for the purposes of Article 7 of EU Regulation 596/2014, prior to its release.
About Dalradian Resources Inc. Dalradian Resources Inc. is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom.
For more information: Marla Gale Vice President Communications +1 416 583 5600 investor@dalradian.com
Grant Thornton UK LLP (Nominated Adviser) Philip Secrett / Richard Tonthat/Harrison Clarke +44 (0)20 7383 5100
Canaccord Genuity Limited (Broker) Henry Fitzgerald-O'Connor / Martin Davison +44 (0)20 7523 8000
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Nicole Adshead-Bell |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Patrick Downey |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Ronald Gagel |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Thomas Obradovich |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Sean Roosen |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Jonathan Rubenstein |
| 2. | Reason for the notification | |
| a) | Position/status: | Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | James Rutherford |
| 2. | Reason for the notification | |
| a) | Position/status: | Director (Chairman) |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and deferred share units |
| c) | Price(s) and volume | 80,000 options to acquire shares at $1.65 per share and 30,000 deferred share units valued at $1.64 each, redeemable as common shares for no additional consideration. |
| d) | Aggregated information | 80,000 options to acquire shares at $1.65 per share, and 30,000 deferred share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Patrick F. N. Anderson |
| 2. | Reason for the notification | |
| a) | Position/status: | President and CEO |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 450,000 options to acquire shares at $1.65 per share and 150,000 restricted share units valued at $1.64 each, redeemable as common shares for no additional consideration |
| d) | Aggregated information | 450,000 options to acquire shares at $1.65 per share, and 150,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Eric Tremblay |
| 2. | Reason for the notification | |
| a) | Position/status: | COO |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 300,000 options to acquire shares at $1.65 per share and 100,000 restricted share units valued at $1.64 each, redeemable as common shares for no additional consideration |
| d) | Aggregated information | 300,000 options to acquire shares at $1.65 per share, and 100,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Keith McKay |
| 2. | Reason for the notification | |
| a) | Position/status: | CFO |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 225,000 options to acquire shares at $1.65 per share and 75,000 restricted share units valued at $1.64 each, redeemable as common shares for no additional consideration |
| d) | Aggregated information | 225,000 options to acquire shares at $1.65 per share, and 75,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Marla Gale |
| 2. | Reason for the notification | |
| a) | Position/status: | VP Communications and Corporate Secretary |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 225,000 options to acquire shares at $1.65 per share and 75,000 restricted share units valued at $1.64 each, redeemable as common shares for no additional consideration |
| d) | Aggregated information | 225,000 options to acquire shares at $1.65 per share, and 75,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | Brian Kelly |
| 2. | Reason for the notification | |
| a) | Position/status: | Managing Director |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 100,000 options to acquire shares at $1.65 per share and 35,000 restricted share units valued at $1.64 each redeemable as common shares for no additional consideration |
| d) | Aggregated information | 100,000 options to acquire shares at $1.65 per share, and 35,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
DEALING NOTIFICATION FORM FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY AND THEIR CLOSELY ASSOCIATED PERSONS
| 1. | Details of the person discharging managerial responsibilities/person closely associated |
| a) | Name: | David Gregory Hope |
| 2. | Reason for the notification | |
| a) | Position/status: | Exploration and Geology Manager |
| b) | Initial notification/Amendment: | Initial Notification |
| 3. | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name: | Dalradian Resources Inc. |
| b) | LEI: | N/A |
| 4. | Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a) | Description of the financial instrument, type of instrument Identification Code | Common Shares of no par value ISIN: CA2354991002 |
| b) | Nature of the transaction | Grant of options to acquire shares and restricted share units |
| c) | Price(s) and volume | 225,000 options to acquire shares at $1.65 per share and 75,000 restricted share units valued at $1.64 each redeemable as common shares for no additional consideration |
| d) | Aggregated information | 225,000 options to acquire shares at $1.65 per share, and 75,000 restricted share units each redeemable as common shares |
| e) | Date of the transaction | 30 June 2017 |
| f) | Place of the transaction | Outside a trading venue |
