CanAm Coal Corp. (TSX VENTURE:COE)(OTCQX:COECF) ("CanAm" or the "Company") announces that, subject to regulatory approval, on June 1, 2012, it granted a total of 3.3 million options to directors, officers and employees of the Company and its affiliates to purchase common shares of the Company in accordance with the Company's stock option plan. The options expire ten years from the date of grant and will vest at a rate of one sixth every three months. All options have an exercise price of $0.14 per common share.
The Company has determined that there are exemptions available from the various requirements of TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of the options to directors, officers and employees of the Company (Formal Valuation - Issuer Not Listed on Specified Markets; Minority Approval - Fair Market Value Not More Than $2,500,000).
The Company is also pleased to announce that it has raised $100,000 through the exercise of 1 million options at an exercise price of $0.10. Proceeds will be used for general operating purposes.
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. CanAm's main activities and assets include its four operating coal mines in Alabama and the Buick Coal Project which holds significant coal resources, 188 million indicated and 103 million inferred resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
SOURCE: CanAm Coal Corp.
CanAm Corporate Office:
Tim Bergen
CEO
403.262.3797 or Toll Free: 1.877.262.5888
tbergen@canamcoal.com
Brisco Capital Partners:
Scott Koyich
Partner
403.262.9888
scott@briscocapital.com
All my posts, are only My Opinion
