TORONTO,
May 7, 2012 /PRNewswire/ - Corsa Coal
Corp. (TSXV: CSO) announces that the Board of Directors on
May 4, 2012 granted stock options to
purchase a total of 1,000,000 common shares to two Directors and
one employee. Charles Pitcher,
Director, received a grant of 500,000 options and Michael Harrison, Director, received a grant of
300,000 options.
The options granted are exercisable for five
years at a price of $0.50 and subject
to the terms and conditions of Corsa's Stock Option Plan and TSX
Venture Exchange approval. The options will vest one-third at one
year from the date of grant, one-third at two years from the date
of grant and one-third at three years from the date of grant.
This exercise price, which is above current market price,
represents the issue price of shares on the private placement
completed in December 2011.
Information about Corsa
Corsa's primary business is the mining,
processing and selling of metallurgical coal, as well as actively
exploring, acquiring and
developing resource properties consistent
with its coal business in Northern Appalachia.
The TSX Venture Exchange has neither approved nor
disapproved the contents of this press 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.
