Colonial Coal Issues Stock Options
VANCOUVER, British Columbia, April 05, 2018 (GLOBE NEWSWIRE) -- Colonial Coal International Corp. (TSX-V:CAD) (the “Corporation” or “Colonial Coal”) is pleased to announce that it has granted stock options (each, a “Stock Option”) to acquire an aggregate of up to 7,325,000 common shares of the Company to certain directors, officers, employees and consultants of the Company in accordance with the provisions of the Company’s previously approved share option plan. The Stock Options are fully vested and are exercisable at a price of $0.31 per common share for a period of 10 years from the date of grant.
Following the issuance of these Options the Company has a total of 11,570,000 options outstanding pursuant to its share option plan, which represent approximately 7.78% of the issued and outstanding common shares of the Company. This grant of Options is subject to regulatory approval.
About Colonial Coal International Corp.
Colonial Coal is a publicly traded coal corporation in British Columbia that focuses primarily on coking coal projects. The northeast Coal Block of British Columbia, within which our Corporation’s projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Xstrata, Anglo-American and others.
Additional information can be found on the Corporation’s website www.ccoal.ca or by viewing the Corporation’s filings at www.sedar.com.
For further information please contact:
Colonial Coal International Corp.
David Austin, President and CEO
604.568.4962
daustin@ccoal.ca
www.ccoal.ca
Forward-Looking Information
Information set forth in this news release involves forward-looking statements, including statements relating to the Corporation’s potential sale of an interest in its Flatbed Property. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a Corporation’s expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and except as required by law, the Corporation undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE CORPORATION AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE CORPORATION MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.