Tsodilo Resources Grant of Stock Options
Tsodilo Resources Limited reports that in terms of the Stock Option Plan of the Company and a policy adopted by the board of directors in September 2002, 650,000stock options were granted to officers, senior employees, and advisors to be effective on January 2023, at CDN $0.20 per common share. These options are valid for five years and vest in four equal installments on January 1, 2023, July 1, 2023, January 1, 2024, and July 1, 2024.
About Tsodilo Resources Limited
Tsodilo Resources Limited (Tsodilo) is an exploration stage company which is engaged principally in the acquisition, exploration and development of mineral properties in the Republic of Botswana. The Company is considered to be in the exploration and development stage given that none of its properties are in production and, to date, has not earned any significant revenues.
The recoverability of amounts shown for exploration and evaluation assets is dependent on the existence of economically recoverable reserves, the renewal of exploration licenses, obtaining the necessary permits to operate a mine, obtaining the financing to complete exploration and development, and future profitable production.
The Company has a 100% stake in Bosoto which holds the BK16 kimberlite project in the Orapa Kimberlite Field (OKF) in Botswana and a 100% stake in its Gcwihaba project area consisting of five metal (base, precious, platinum group, and rare earth) prospecting licenses all located in the North-West district of Botswana. Tsodilo manages the exploration of the Gcwihaba and Bosoto projects. Tsodilo currently exists under the Business Corporations Act of Yukon and its common shares are listed on the Toronto Venture Stock Exchange (TSX-V) under the symbol TSD.
