| ||May 18, 2011|
CanAm Grants Stock Options
| ||Calgary, AB, May 18, 2011 - CanAm Coal Corp. (TSXV: 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).
About CanAm Coal Corp.
CanAm is a coal producing 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, the exclusive rights to a proprietary Coal to Liquids technology which converts coal into liquid fuels (such as oil, jet fuel) at an economical cost with zero airborne emissions and the Buick Coal Project which holds significant coal resources, 188 million tons of indicated and 103 million tons of inferred coal 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.
For Further Information:
CanAm Corporate Office:
Linden Swensen, President
Toll Free: 1.877.262.5888
Brisco Capital Partners:
Scott Koyich, Partner
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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.
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You can view the Previous News & Links item: Tue May 10, 2011, CanAm Completes Transaction to Acquire 50% of Birmingham Coal & Coke Company, Inc. and Cahaba Contracting & Reclamation, LLC
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