Caledonia Mining Corporation
TSX : CAL
OTCQX : CALVF
AIM : CMCL

Caledonia Mining Corporation

September 13, 2012 08:27 ET

Grant of Options

TORONTO, ONTARIO--(Marketwire - Sept. 13, 2012) - Caledonia Mining Corporation ("Caledonia" or "the Company") (TSX:CAL)(OTCQX:CALVF)(AIM:CMCL) announces that it has, effective September 10, 2012, granted share purchase options over ordinary shares of nil par value in the Company ("Ordinary Shares") to its directors, officers and employees, and directors and employees of certain of its subsidiary companies. A total of 9,319,000 new options have been granted with 5-year terms, exercisable from September 10, 2012 until September 10, 2017 at a price of $0.09 (Cdn.) per Ordinary Share. Options were granted to the following directors of the Company:

Name of director Position Number of new options granted Total options held following grant Total options as % of issued share capital
Christopher Harvey Director 400,000 2,400,000 0.47
Stefan Hayden Director, President & Chief Executive Officer 1,400,000 10,400,000 2.05
James Johnstone Director 400,000 2,400,000 0.47
Carl Jonsson Director, Chairman & Secretary 400,000 3,000,000 0.59
Steve Curtis Director, V-P Finance & Chief Financial Officer 1,200,000 6,300,000 1.24
Robert Babensee Director 400,000 2,650,000 0.52
Richard Patricio Director 900,000 900,000 0.18
Leigh Wilson Director 900,000 900,000 0.18
John Kelly Director 900,000 900,000 0.18

Caledonia has in place a floating Option Plan ("the Plan") pursuant to which it has previously had 30,540,000 options issued. The newly granted options will bring the total number of options outstanding to 39,859,000 - equivalent to approximately 7.85% of Caledonia's issued share capital. Pursuant to the Plan, Caledonia has the authority to issue options equal to 10% of its issued share capital.

Contact Information

  • Caledonia Mining Corporation
    Mark Learmonth
    + 27 11 447 2499
    marklearmonth@caledoniamining.com

    Canaccord Genuity Limited
    John Prior / Sebastian Jones
    + 44 20 7523 8350

    Newgate Threadneedle
    Beth Harris / Josh Royston
    +44 20 7653 9850

    CHF Investor Relations
    Stephanie Fitzgerald
    +1 416 868 1079 x 222
    stephanie@chfir.com