Prophecy Coal Announces Grant of Incentive Stock Options
May 02 2014 - 01:55PM
Marketwired
Prophecy Coal Announces Grant of Incentive Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 2, 2014) -
Prophecy Coal Corp. ("Prophecy" or the "Company")
(TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) announces that on May 1,
2014, it granted in aggregate, 7,135,000 incentive stock options
("Options") to various directors, officers, employees and
consultants of the Company. As part of its continuous review, the
Company cancelled over the past three months a total of 14,980,000
stock options with various exercise prices and further allowed
1,056,800 stock options to expire in January 2014 without
renewal.
3,575,000 of the Options granted are to directors, officers and
consultants who previously surrendered stock options for
cancellation. As a result, this portion of the grant will be
subject to approval by shareholders at the Company's next annual
general meeting and the Toronto Stock Exchange.
The Options were granted pursuant to the terms of the Company's
Stock Option Plan, which was approved by shareholders at the
Company's last annual general and special meeting of shareholders
held on July 30, 2013. The Options are exercisable at a price of
$0.065 per common share for a term of five years expiring on May 1,
2019 and vest at 12.5% per quarter for the first two years
following the date of grant.
About Prophecy Coal
Prophecy Coal Corp. is a
Canadian company listed on the Toronto Stock Exchange engaged in
developing energy projects in Mongolia. Further information on
Prophecy Coal can be found at www.prophecycoal.com.
PROPHECY COAL CORP.
ON BEHALF OF THE BOARD
JOHN LEE, Executive
Chairman
Prophecy Coal Corp.Mirza RahimaniInvestor
Relations+1.604.563.0669 or
+1.888.513.6286investorrelations@prophecycoal.comwww.prophecycoal.com