Lara Exploration issued the following announcement on March 14.
Lara Exploration Ltd., (“Lara” or the “Company”) announces that pursuant to its stock grant program, 250,000 common shares have been granted to certain officers of the Company for their ongoing efforts in assisting towards the continuing exploration success and future goals of the Company.
The common shares will be issued over a period of three years, with the initial tranche of 83,333 shares being issued upon receipt of TSX Venture Exchange approval (the “Exchange”), and a further 83,333 shares on each of the first and second anniversaries.
The shares will be subject to restrictions on transfer for a period of four months from issuance.
Additionally, Lara also announces that pursuant to its stock option plan, 350,000 incentive stock options exercisable at $0.72 per share, for a period of five years, have been granted to officers of the Company.