TORONTO, ONTARIO--(Marketwire - Sept. 23, 2011) - Coalcorp Mining Inc. (TSX VENTURE:CCJ) ('Coalcorp') announces that it is formally changing its company name, subject to TSXV approval, to Melior Resources Inc.
The name change, said Charles Entrekin, Coalcorp's Chairman and CEO, reflects the Company's strategy to invest in mining, metallurgical and mineral companies that are unrelated to the Company's historical activities. Recently, the Company enhanced the Board of Directors with the addition of Daniel Dumas who has extensive experience in mining operations. Over the last year, the Company has liquidated the majority of its previous investments to establish a pool of capital, in order to prepare for a potential significant investment in a developing resource property. As Melior Resources Inc., the Company's name will better reflect its current investment activities.
In addition the Company announces that a total of 3,875,000 stock options to purchase common shares in the Corporation were granted to directors, officers and a consultant of the Company at an exercise price of $0.17 per share, which represents a 21% premium to the current market price, expiring on September 21st, 2018.
Forward Looking Statements Disclaimer
Forward Looking Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", "expect", "potential", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts. Certain material factors or assumptions are applied in making forward-looking statements and actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.
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.
Contact Information:
Steven Cresswell
Chief Financial Officer
416-644-1217