TORONTO,
Oct. 30, 2012 /PRNewswire/ - Corsa
Coal Corp. (TSXV: CSO) announces that the Board of Directors
granted stock options to purchase a total of 5,950,000 common
shares to employees and directors in connection with salary and
cost reduction initiatives. Each director received 250,000
options, except Charles Pitcher,
former President of the Company's operating subsidiary Wilson Creek
Energy, LLC, who received 500,000. Paul Caldwell, Chief Financial Officer, received
500,000 options.
The options granted are exercisable for five
years at a price of $0.25 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 represents a significant premium above current
market price.
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.
