UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
January 4, 2006
Date of Report (Date of earliest event reported)
SILVERADO GOLD MINES LTD.
(Exact name of registrant as specified in its charter)
BRITISH COLUMBIA | 0-12132 | 98-0045034 |
(State or other jurisdiction of | (Commission File | (IRS Employer Identification |
incorporation) | Number) | No.) |
Suite 505, 1111 West Georgia Street | |
Vancouver, British Columbia Canada | V6E 4M3 |
(Address of principal executive offices) | (Zip Code) |
604-689-1535
Registrant's telephone number, including area code
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e -4(c))
SECTION 8 OTHER EVENTS
Item 8.01 Other Events
Approval of 2006 Stock Option Plan
The board of directors has approved the Company’s 2006 Stock Option Plan. The 2006 Stock Option Plan provides for the grant of options to purchase up to 37,000,000 common shares of the Company to the Company’s directors, officers, employees and eligible consultants.
Grants of Stock Options
We granted options to purchase an aggregate of 30,000,000 shares to certain of our insiders on January 4, 2006 as follows. All options are fully vested and are exercisable at a price of $0.05 per share for a seven year term from the date of grant, being January 4, 2013:
NAME | NUMBER OF OPTIONS |
Garry Anselmo, President and Director | 15,000,000 |
James Dixon, Director | 3,000,000 |
Stuart McCulloch, Director | 3,000,000 |
John McKay, Secretary | 2,000,000 |
Ed Armstrong, President of Silverado Green Fuel Inc. | 4,000,000 |
Warrack Willson, Vice-President of Silverado Green Fuel Inc. | 3,000,000 |
Reductions to Exercise Prices of Outstanding Stock Options
Effective January 4, 2006, we reduced the exercise price of previously outstanding options held by certain of our insiders to purchase an aggregate of 6,000,000 shares from $0.13 per share to $0.05 per share as follows. All options are fully vested and are exercisable at a price of $0.05 per share for a seven year term from the date of grant, being December 4, 2008:
NAME | NUMBER OF OPTIONS |
Garry Anselmo, President and Director | 3,000,000 |
James Dixon, Director | 500,000 |
Stuart McCulloch, Director | 500,000 |
John McKay, Secretary | 0 |
Ed Armstrong, President of Silverado Green Fuel Inc. | 1,500,000 |
Warrack Willson, Vice-President of Silverado Green Fuel Inc. | 500,000 |
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Effective January 4, 2006, we reduced the exercise price of previously outstanding options held by certain of our insiders to purchase an aggregate of 5,680,000 shares from $0.13 per share to $0.05 per share as follows. All options are fully vested and are exercisable at a price of $0.05 per share for a seven year term from the date of grant, being January 8, 2011:
NAME | NUMBER OF OPTIONS |
Garry Anselmo, President and Director | 2,500,000 |
James Dixon, Director | 800,000 |
Stuart McCulloch, Director | 600,000 |
John McKay, Secretary | 0 |
Ed Armstrong, President of Silverado Green Fuel Inc. | 1,280,000 |
Warrack Willson, Vice-President of Silverado Green Fuel Inc. | 500,000 |
Effective January 4, 2006, we reduced the exercise price of previously outstanding options held by certain of our insiders to purchase an aggregate of 15,000,000 shares from $0.10 per share to $0.05 per share as follows. All options are fully vested and are exercisable at a price of $0.05 per share for a seven year term from the date of grant, being July 8, 2011:
NAME | NUMBER OF OPTIONS |
Garry Anselmo, President and Director | 6,000,000 |
James Dixon, Director | 2,000,000 |
Stuart McCulloch, Director | 1,500,000 |
John McKay, Secretary | 1,500,000 |
Ed Armstrong, President of Silverado Green Fuel Inc. | 2,500,000 |
Warrack Willson, Vice-President of Silverado Green Fuel Inc. | 1,500,000 |
Effective January 4, 2006, we reduced the exercise price of previously outstanding options held by certain of our insiders to purchase an aggregate of 550,000 shares from $0.10 per share to $0.05 per share as follows. All options are fully vested and are exercisable at a price of $0.05 per share for a term expiring December 10, 2006:
NAME | NUMBER OF OPTIONS |
James Dixon, Director | 500,000 |
Stuart McCulloch, Director | 50,000 |
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SIGNATURES
Pursuant to the requirements of the Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SILVERADO GOLD MINES LTD. | ||
DATE: January 5, 2006 | By: | /s/ Garry L. Anselmo |
Garry L. Anselmo | ||
President |
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