Regulus Resources Grants 2.18M Options, Replaces Expired Incentives

Regulus Resources granted incentive stock options to directors, officers, employees, and consultants to buy up to 2.18 million common shares at $4.18 each, the company said Thursday. The options vest over two years, with one-quarter vesting every six months. They run for five years.

The majority of the grants replace options that were exercised upon expiry within the last year, Regulus said. The company now has 125.5 million shares outstanding and 11.9 million options outstanding, including the new grant. No warrants are outstanding.

Regulus holds the AntaKori copper-gold-silver project in northern Peru. The project hosts indicated resources of 250 million tonnes grading 0.48% copper and 0.29 grams per tonne gold, plus 7.5 g/t silver. Inferred resources add 267 million tonnes at 0.41% copper and 0.26 g/t gold, with 7.8 g/t silver, according to a 2019 technical report. Mineralization remains open in most directions.

Peru is a major copper producer, and the AntaKori project sits in the Cajamarca region. The resource estimate is from 2019, and the company has not published an update since. Option grants are a standard tool for junior miners to retain key personnel during the long development phase.

On AlphaScala, Regulus carries an Alpha Score of 62 out of 100, classified as Moderate. The stock trades on the TSX Venture under REG and on the OTCQX under RGLSF.