3,500,000 unquoted options (1,166,668 options exercisable at $0.026 each on or before 30 April 2018, 1,166,668 options exercisable at $0.05 each on or before 30 April 2018 and 1,166,664 options exercisable at $0.075 each on or before 30 April 2018) were issued to various employees and contractors of the Company as long term incentives pursuant to the terms and conditions of the Pioneer Employee Share Option Plan.