TORONTO, Aug. 29, 2014 /CNW/ - Corsa Coal Corp.
(TSXV: CSO) ("Corsa" or the "Company") wishes to announce a
correction to the exercise price of the stock options granted to
certain employees of PBS and the Company that was announced on
August 20, 2014 ("August 20 Press Release").
Under the Company's amended and restated stock option plan, in
the event that stock options are granted by the Company on a date
during a self-imposed insider-trading black-out period ("Black-Out
Period"), the exercise price of such stock options shall not be
less than the closing price of the Company's common shares on the
TSX Venture Exchange on the day following the expiry of such
black-out period. In connection with the announcement of its
financial results for the three and six months ended June 30, 2014 which occurred on August 27, 2014 ("Announcement Date"), Corsa
implemented a Black-Out Period which began twenty (20) business
days prior to the Announcement Date and expires two business days
following the Announcement Date, being August 29, 2014.
Accordingly, the exercise price of the stock options granted on
August 19, 2014 shall be the closing
price of the Company's common shares on the TSX Venture Exchange on
September 2, 2014 (the day following
the expiry of the Blackout Period), rather than C$0.29 per common share announced in the
August 20 Press Release.
All other information contained in the August 20 Press Release remains unchanged.
The TSX Venture Exchange has in no way passed on the
merits of this news release. Neither TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
SOURCE Corsa Coal Corp.