I checked the Annual Report and Sam Riggall's options which he had excised were going to expire on the 25th of February 2018. I also noted that at the time it was granted the "Fair value per option at grant date" was $0.068 (although I could not find a corresponding data to support the valuation). He did not excise all 8m of them but 7m+ of it. Please see attached image.
He has another tranche of options expiring on the 30th of June 2018 and 16th of May 2019 with the excise price set at $0.2305 and $0.31 respectively.
I crosschecked the share price for CLQ in June 2015 and found that the share price was hovering between $0.19 and $0.20 per share (google finance).
I wished I had read about CLQ and had to wisdom to take a position then ...
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