TORONTO, ONTARIO (May 30, 2019) – Pangolin Diamonds Corp. (TSX-V: PAN) (the “Company” or “Pangolin”) is pleased to announce that it has engaged Boswell Capital Corporation (“Boswell”) to act as its strategic consultant and corporate advisor, for an initial term of 24 months.
As compensation for the provision of strategic consulting and advisory services, the Company has agreed to grant Boswell a total of 2,000,000 stock options; with 1,000,000 stock options to be issued upon engagement, with an exercise price of $0.05 per share, and an additional 1,000,000 stock options to be issued on May 1st, 2020, with an exercise price set at 10% above market of the previous day’s closing price, subject to approval by the TSX Venture Exchange. All stock options issued to Boswell will be valid for a term of 3 years following the date of issuance.
Boswell Capital Corporation is a mineral resource orientated investment and advisory firm based in the Yorkville district of Toronto. Since its establishment in 2005 Boswell has provided guidance to numerous international resource companies, investment funds, and end-users while also investing its own capital in select resource companies.
Grant of Stock Options
The Company also announces that its board of directors has approved the granting of 550,000 options under its Stock Option Plan, each share under option having a 5-year term and an exercise price of $0.05. The Options in question were granted to various key employees.
About Pangolin Diamonds Corp. and Our Social Connections
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Pangolin Diamonds Corp. – Contact Information
Dr. Leon Daniels, President and CEO
Graham C. Warren, Chief Financial Officer
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defined in the policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.