Colonial Coal Announces Results of Agm and Appointments
COLONIAL COAL I
NTERNATIONAL CORP.
Suite 200 -595 Howe Street, Vancouver, British Columbia, Canada, V6C 2T5
Telephone: (604) 568-4962
PRESS RELEASE
COLONIAL COAL ANNOUNCES RESULTS OF AGM AND APPOINTMENTS
Vancouver, B.C., Canada, Thursday, December 15, 2022 – Colonial Coal International Corp.
(TSX-V: CAD) (the “ Company” or “Colonial ”) is pleased to announce the results of the
Company’s annual general meeting (the “ AGM”) held on December 15, 2022, in Vancouver,
British Columbia.
The Company is pleased to report that, at its AGM, the shareholders voted to re-elect David Austin,
Ian Downie, Anthony Hammond, John Perry, Gregor y Waller and Partha S. Bhattacharyya as
directors of the Company for the ensuing year.
In addition, at the AGM the shareholde rs also approved the re-appointment of
PricewaterhouseCoopers LLP, Chartered Professional Accountants, as the Company’s auditor, and
authorized the directors to fix the auditor’s remuneration.
Furthermore, at the AGM the shareholders also approved the Company’s new Share Option Plan
(the “New Option Plan ”). The New Option Plan allows the Board of Directors to grant such
number of stock options and other stock-based compensation awards of the Company as equals up
to 10% of the issued and outsta nding common shares of the Compa ny at the time of grant. The
Company adopted the New Option Plan in order to comply with recent amendments made to the
TSX Venture Exchange (the “TSXV”) policy governing security based compensation and
includes, among other things:
• specific restrictions with respect to adjustments to security based compensation.
Any adjustment to stock options granted (e xcept in relation to a consolidation or
share split) is subject to the prior acceptance of the TSXV;
• Investor Relations Service Providers may not receive any security based
compensation other than stock options; and
• allowing for option holders to exercise op tions on a “Cashless Exercise” or “Net
Exercise” basis.
The Company has 12,500,000 stock options currently outstanding under the New Option Plan and
5,073,805 common shares for future grants and aw ards remain available. All options granted
under the Company’s previous option plan are no w subject to the New Option Plan without any
action required on the part of the option holders.
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A copy of the New Option Plan was attached to the Circular, a copy of which was filed on SEDAR
on Nove
mber 16, 2022.
For more information on these matters pleas e refer to the Company’s AGM Management
Information Circular which is available on SEDAR (at www.sedar.com).
Following the AGM the Board of Directors (the “Board”) met and confirmed the appointment of
the following Company executive officers:
David Austin: Chairman, President and Chief Executive Officer;
John Perry: Chief Operating Officer; and
Andrea Yuan: Corporate Secretary and Chief Financial Officer;
and the re-appointment of the following members to the Company’s current Audit Committee:
Ian Downie (Chairman); David Austin; and Anthony Hammond.
The Board would like to thank the shareholders for their ongoing support.
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.
About Colonial Coal International Corp.
Colonial Coal is a publicly traded coal corporati on in British Columbia that focuses primarily on
coking coal projects. The northeast Coal Block o f British Columbia, within which o ur
Corporation’s projects are located, hosts a number of proven deposits and has been the subject of
M&A activities by Anglo-American and others. Additional in formation can be found on the
Company's website www.ccoal.ca or by viewing the Company's filings at www.sedar.com.
Forward-Looking Information
Information set forth in this news release may involve forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this context, forward-looking statements often address a company's
expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan",
"estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be
taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing
and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest
among certain officers or directors with certain other projects; and the volatility of common share price and volume.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that
statements are made and except as required by law, the Company undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinio ns or ot her circumstances shou ld change. Inv estors are cautioned
against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE
EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY,
IS SUBJECT TO CHANGE AFTER SUCH DATE. REA DERS SHOULD NOT PLACE UNDUE IMPORTANCE
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ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF
ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE
THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH
APPLICABLE SECURITIES LEGISLATION.
For further information please contact:
Colonial Coal International Corp.
Shane Austin
604.568.4962
www.ccoal.ca