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1/5/2011 12:00 AM
January 5, 2011 - CALGARY, AB - Cobalt Coal Corp. (“Cobalt” or the “Company”) (TSX V: CBT), announces that pursuant to the Company's stock option plan, a total of 3,500,000 incentive stock options were granted to directors, officers and consultants of the Company on January 4, 2011. The options were granted at an exercise price of $0.11 per share for a period of five years. One third of the options will vest to the holders after the first, second and third anniversaries of yesterday’s grant.
About Cobalt:
Cobalt is a publicly traded coal exploration and production company headquartered in Calgary, Alberta, Canada with a regional office in Welch, West Virginia USA. Cobalt was created in August 2007 to capitalize on the growth opportunities that exist in the modem metallurgical coal mining industry. Cobalt owns a 60% after payout interest in the Westchester Mine, and operates this mine through its wholly-owned subsidiary Westchester Coal GP Inc.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION/SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For more information, please contact:
Robert Gillies
CFO, Cobalt Coal Corp.
Office: 403-538-8455
bob.gillies@sympatico.ca