Coalcorp Announces Change of Name to Melior Resources Inc. and Grants Stock Options
The name change, said Charles Entrekin, Coalcorp's Chairman and CEO, reflects the Company's strategy to invest in mining, metallurgical and mineral companies that are unrelated to the Company's historical activities. Recently, the Company enhanced the Board of Directors with the addition of Daniel Dumas who has extensive experience in mining operations. Over the last year, the Company has liquidated the majority of its previous investments to establish a pool of capital, in order to prepare for a potential significant investment in a developing resource property. As Melior Resources Inc., the Company's name will better reflect its current investment activities.
In addition the Company announces that a total of 3,875,000 stock options to purchase common shares in the Corporation were granted to directors, officers and a consultant of the Company at an exercise price of $0.17 per share, which represents a 21% premium to the current market price, expiring on September 21st, 2018.
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Contact Information
Coalcorp Mining Inc.
Steven Cresswell
Chief Financial Officer
416-644-1217