CALGARY, July 28, 2017 /CNW/ - Gemini Corporation
(GKX-TSXV) today announced the grant of options and share
units.
The Corporation granted an aggregate of 1,000,000 options to
senior management at an exercise price of $0.105 per share, which was the closing market
price on July 19, 2017. Under the
terms of Gemini's option plan, the options are valid for four years
from the date of grant and vest one-third immediately and the
remainder at one-third on each of the next two grant date
anniversaries. These grants bring the total number of options
outstanding to 1,952,000 or 2.5% of the 76,882,832 issued and
outstanding common shares of the Corporation.
A total of 990,000 performance and restricted share units were
granted to certain officers and directors with a vesting date of
January 1, 2020. The unit plan is
structured to settle these share units through the issuance of
shares on the vesting date.
ABOUT GEMINI
Gemini operates as an integrated project
solutions company focused on energy and industrial facilities.
Gemini offers services on either a stand-alone basis or in a
combination, integrated to provide our clients with a single point
of accountability. The Company is celebrating its 35th anniversary
in 2017.
Through an all-in commitment from every individual in the
Company, Gemini is determined to change the client perspective of
how project services should be delivered. The Company is uniquely
qualified to provide a full spectrum of modular and integrated
project solutions, leveraging a philosophy and approach that
directly aligns with its clients' business objectives.
The Company is capable of servicing its clients through the full
life cycle of their assets; from asset acquisition, environmental
and regulatory support, engineering, fabrication, construction,
maintenance, turnarounds, de-commissioning, reclamation and
remediation. Gemini provides full project management to integrate
any or all of these services. The Company's principal target
markets are oil and gas, heavy oil, oil sands, midstream and
pipeline facilities, hydrocarbon processing, power and other
industrials.
The Company operates in western Canada and is headquartered in Calgary with offices in Ponoka, Fort
Saskatchewan and Fort St.
John.
Shares of Gemini trade on the TSX Venture Exchange under the
symbol "GKX". For more information about the Company and its
services, go to www.geminicorp.ca.
The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release.
SOURCE Gemini Corporation