CALGARY,
June 23, 2016 /CNW/ - Gemini
Corporation (GKX-TSXV) today announced the grant of options and
share units.
The Corporation granted an aggregate of 90,000
options to certain officers at an exercise price of $0.105 per share, which was the closing market
price on June 22, 2016. In addition,
200,000 options were previously granted to an incoming officer at
an exercise price of $0.12 per share,
which was the closing market price on March
11, 2016. 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 1,924,000 or 2.5% of the
76,882,832 issued and outstanding common shares of the
Corporation.
A total of 447,000 performance share units and
431,000 restricted share units were granted to certain officers and
directors with a vesting date of January 1,
2019. The unit plan is structured to settle these share
units through the issuance of shares on the vesting date.
About Gemini Corporation
Gemini
Corporation is a professional services firm that provides
engineering, regulatory, fabrication, installation and maintenance
solutions for clients through stand-alone or integrated service
delivery models. For more than 30 years, Gemini has been harnessing
the energy of its staff and clients to power innovation in
conventional and unconventional oil and gas, in-situ heavy oil and
industrial facilities across western Canada. Our integrated design-build project
delivery model differentiates Gemini and provides tremendous
value-added benefits for clients, such as constructability advice
at the design phase, schedule compression and one point of
accountability.
Shares of Gemini trade on the TSX Venture
Exchange under the symbol "GKX". For more information about the
Corporation and its services, go to www.geminicorp.ca.
Disclaimer
This news release
may contain forward looking information that represents Gemini's
internal projections, expectations, estimates or beliefs
concerning, among other things, future operating results and
various components thereof or Gemini's future economic performance.
All statements other than the statements of historical fact may be
forward-looking statements. In some cases, forward-looking
statements can be identified by terminology such as "may", "will",
"should", "expects", "projects", "plans", "anticipates", and
similar expressions. The projections, estimates and beliefs
contained in such forward-looking statements are based on
management's assumptions relating to Gemini's performance and
competition within the sectors in which it competes, the
continuation of the current regulatory and tax regimes in the
jurisdictions in which Gemini operates, and necessarily involve
known and unknown risks and uncertainties, including risks and
assumptions relating to client service demand, field service costs,
labour rates, and other factors that may cause actual performance
and financial results in future periods to differ materially from
any projections of future performance or results expressed or
implied by such forward-looking statements. Accordingly, readers
are cautioned that events or circumstances could cause results to
differ materially from those predicted or suggested. The
Corporation does not undertake to update any forward-looking
information in this document whether as to new information, future
events or otherwise.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE Gemini Corporation