|By Marketwired .||
|February 4, 2014 11:40 AM EST||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 02/04/14 -- Prophecy Coal Corp. ("Prophecy" or the "Company") (TSX: PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) is pleased to announce the appointment of Tony S.K. Wong as Corporate Secretary and General Counsel effective February 3, 2014. Mr. Wong is a lawyer who has practiced law throughout Canada for over 12 years. Mr. Wong replaces Pat Purdy as Prophecy's Corporate Secretary. The Board of Directors thanks Ms. Purdy for her service to the Company, and wishes her well in her future endeavours.
The Company also announces that it has granted, in aggregate, 5,800,000 stock options ("Options") to certain employees, directors, officers and other Company personnel. The Options have been granted pursuant to the terms of the Company's Stock Option Plan, which was approved by shareholders at the Company's annual general and special meeting of shareholders that was held on July 30, 2013.
250,000 Options are exercisable at $0.08 for a term of five years expiring on January 8, 2014. 5,550,000 Options are exercisable at $0.105 for a term of five years expiring on January 27, 2019. Each Option vests at 12.5% per quarter for the first two years following the date of Grant and is subject to the approval of the Toronto Stock Exchange.
About Prophecy Coal
Prophecy Coal Corp. is a Canadian company listed on the Toronto Stock Exchange engaged in developing energy projects in Mongolia. Further information on Prophecy Coal can be found at www.prophecycoal.com.
PROPHECY COAL CORP ON BEHALF OF THE BOARD
JOHN LEE, Executive Chairman