Regulus grants options to buy 2.17 million shares

Regulus Resources Inc. has granted incentive stock options to its directors, officers, employees, and consultants to purchase up to 2,175,000 common shares. The options carry an exercise price of $4.18 per share and have a five-year term. The majority of these newly granted options serve to replace options that had been exercised or expired within the last year.

The vesting schedule for the options spans a two-year period, with one-quarter of the options vesting every six months. Following the grant, the company’s capitalization stands at 125,544,668 shares issued and outstanding. The total number of options outstanding is now 11.9 million, including the newly granted options, while there are no warrants outstanding.