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Avino provides update on its Stock Option Plan

Published by , Assistant Editor
Global Mining Review,

Avino Silver & Gold Mines Ltd. (Avino) Avino has upon the recommendations of its Compensation Committee, granted an aggregate of 526 000 incentive stock options (the Stock Options) under its Stock Option Plan, and 1 730 500 Restricted Share Units (RSUs) under the Restricted Share Unit Plan to its directors, officers, employees and consultants. Both the Stock Option Plan and Restricted Share Unit Plan have been previously approved by shareholders, and no further approval from shareholders is required for these grants.

The Stock Options are exercisable for up to five years at a price of US$0.79 per share and will be vested in stages over a 12 month period with no more than one-quarter of the options vesting in any three-month period from the date of the grant. The RSUs will be vested at the rate of one-third annually for a period of three years from the date of grant, until fully vested. The Stock Options and the RSUs are non transferable.

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