/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
NEWSWIRE SERVICES/
TORONTO, Dec. 3, 2014 /CNW/ - Corsa Coal Corp.
(TSXV: CSO) ("Corsa") announces that the Board of Directors of
Corsa granted stock options to purchase a total of 23,445,000
common shares of Corsa to certain directors, officers and
employees. The grant represents approximately 2.0% of total common
shares outstanding.
Six of Corsa's nine Directors (John H.
Craig, Alan M. De'Ath,
Michael Harrison, Robert Scott, Daniel D.
Smith and Ronald G. Stovash)
each received 900,000 options. Arthur
Einav received 1,150,000 options as an initial grant related
to his appointment as a Director of Corsa on August 20, 2014. Corbin
J. Robertson III, a representative of Corsa's significant
shareholder Quintana Energy Partners L.P. and its affiliated
investment funds ("Quintana"), elected not to receive any options.
George G. Dethlefsen, Director and
Chief Executive Officer of Corsa, received 2,400,000 options,
Keith D. Dyke, Chief Operating
Officer and President of Corsa, received 1,800,000 options,
Joseph A. Gallo, Senior Vice
President of Mincorp Acquisition Corp., a wholly owned subsidiary
of Corsa, received 1,375,000 options, Paul
D. Caldwell, Chief Financial Officer and Corporate Secretary
of Corsa received 900,000 options and Johnny L. Gaertner, Chief Financial Officer of
Kopper Glo Mining, LLC, an 81% owned subsidiary of Corsa, received
900,000 options.
The options were granted in accordance with Corsa's Amended and
Restated Stock Option Plan (the "Option Plan"), are exercisable for
five years at a price of $0.19 per
common share and are subject to the terms and conditions of the
Option Plan and TSX Venture Exchange approval. Such options will
vest one-third on the first anniversary of the date of grant,
one-third on the second anniversary of the date of grant and
one-third on the third anniversary of the date of grant.
Information about Corsa
Corsa's primary business is the mining, processing and selling
of thermal and metallurgical coal, as well as actively exploring,
acquiring and developing resource properties consistent with its
coal business.
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.