May 18, 2011 (Marketwire Canada) --
CALGARY, ALBERTA -- CanAm Coal Corp. (TSX VENTURE:COE) ("CanAm" or the "Company") is pleased to announce the grant of options to directors, officers and consultants of the Company.
The Company announces that, subject to regulatory approval, on May 17, 2011, it granted a total of 2.9 million options to purchase common shares of the Company in accordance with the Company's stock option plan. The options expire five years from the date of grant, will vest at a rate of 1/3 annually, and all options have an exercise price of 20 cents per common share. Out of these options, 2,000,000 options were granted to directors and officers of the Company, and 900,000 were granted to consultants of the Company which includes the officers and directors of Birmingham Coal and Coke Inc. The Company has determined that exemptions from the various requirements of the TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 are available for the issuance of the options to the directors and officers of the Company (formal valuation -- issuer not listed on specified markets; minority approval -- fair market value not more than 25 per cent of market capitalization).