Colonial Coal Issues Stock Options
Vancouver, B.C., Canada – April 5, 2018 – 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