TORONTO, June 3, 2015 /CNW/ - Corsa Coal Corp. (TSXV:
CSO) ("Corsa" or the "Company") is pleased to announce the
appointment of Kevin M. Harrigan as
Chief Financial Officer and Corporate Secretary, effective
June 2, 2015. Mr. Harrigan replaces
Paul D. Caldwell.
Mr. Harrigan has over 15 years' experience in accounting and
financial reporting, including most recently as Vice President,
Chief Accounting Officer and Corporate Controller of Walter Energy,
Inc. (NYSE: WLT), a producer of coal, coke and natural gas based in
Birmingham, Alabama. Prior to
Walter Energy, Mr. Harrigan worked for CONSOL Energy, Inc. for ten
years in various accounting roles, last serving as General Manager,
Accounting and Reporting where he was responsible for accounting
functions and actively participated in the company's financial
reporting process.
"We are thrilled to have Kevin join our team as we continue to
build a premium quality metallurgical coal producer. He brings
tremendous industry experience and public company accounting
expertise to the team." Corsa's Chief Executive Officer,
George Dethlefsen, stated.
"Additionally, Corsa thanks Paul for his contributions to Corsa
over the past five years and wishes him well".
In connection with Mr. Harrigan's appointment, the Company's
Board of Directors has authorized a grant of stock options to Mr.
Harrigan to purchase a total of 1,800,000 common shares of the
Company. The options are to be (i) granted as of June 2, 2015, (ii) exercisable for five
years at a price equal to the higher of (A) the closing price
of Corsa's common shares on the TSX Venture Exchange ("TSXV") on
Monday, June 1, 2015 and (B) the
closing price of Corsa's common shares on the TSXV on Thursday, June 4, 2015, and (iii) subject to
the terms and conditions of Corsa's Amended and Restated Stock
Option Plan and the approval of the TSXV. Such options are to 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 is one of the leading suppliers of premium quality
metallurgical coal, an essential ingredient in the production of
steel, which is necessary for the secular trends in global
urbanization. Our core business is supplying metallurgical coal
with the highest safety, yield, and strength characteristics to
domestic steel producers while being a strategic source of supply
in the Atlantic and Pacific basin markets. Corsa also offers high
heat content, low delivered cost coal to major utilities and
industrial users in the Southeast region of the U.S.
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.