VISTA GOLD CORP. (TSE:VGZ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
VISTA GOLD CORP. (TSE:VGZ) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On July 1, 2019, in connection with the appointment of Mr. Douglas Tobler as the Company’s Chief Financial Officer, the Company and Mr. Tobler have agreed upon the following terms of compensation: (i) a base salary of US$275,000 per year with an annual bonus to be determined by the Board of Directors at their sole discretion, (ii) 150,000 stock options as previously reported on the Company Form 8-K dated July 1, 2019, (iii) participation in the Company’s employee long term and short term incentive plans, 401(k) savings plan, and health, dental and vision plans, (iv) life insurance with a maximum benefit of US$350,000, (v) four weeks of vacation plus standard Company holidays, (vi) severance benefits of 24 months salary and benefits in the event of a change of control event or 12 months salary and benefits in the event of termination without just cause. The Company and Mr. Tobler anticipate entering into a formal employment agreement with these material terms in the near future.
About VISTA GOLD CORP. (TSE:VGZ)
Vista Gold Corp. is engaged in the gold mining industry. The Company is focused on the evaluation, acquisition, exploration and advancement of gold exploration. The Company operates in the segment of evaluation, acquisition and exploration activities, which are focused principally in Australia and North America. The Company’s assets include the Mt Todd gold project in Northern Territory, Australia; interest in Midas Gold Corp.; non-core projects in Mexico and the United States, and royalty interests in project in Mexico and Indonesia. The Mt Todd gold project is located approximately 60 kilometers by road northwest of Katherine, Northern Territory, Australia, and over 250 kilometers southeast of Darwin. The Company operates Mt Todd gold project through its subsidiary, Vista Gold Australia Pty. Ltd (Vista Gold Australia). Total land holdings controlled by Vista Gold Australia are approximately 140,000 hectares.