Regulus Grants Incentive Stock Options

Regulus Resources Inc. announced the grant of incentive stock options to its directors, officers, employees, and consultants. The options allow for the purchase of up to 2,175,000 common shares at an exercise price of $4.18 per share. The grant is intended to replace options that had been exercised or expired within the last year, with vesting scheduled over a two-year period.

The options carry a five-year term and will vest over a two-year period, with one-quarter of the options vesting every six months. Regarding the rationale behind the issuance, the company stated: "The majority of these options were granted to replace options that had been exercised upon expiry within the last year."

Following the grant, the total number of shares issued and outstanding stands at 125,544,668. The total number of options outstanding is 11,900,000, which includes the newly granted options. There are no warrants outstanding.