Sharenet Sites 
Sharenet Sites
Grant of stock options
Buffalo Coal Corp.
Incorporated in Canada and the Republic of South Africa
(Registration number: 2011/011661/10)
Share code TSX Venture Exchange: BUF
Share code JSE Limited: BUC
ISIN: CA1194421014
(“Buffalo Coal Corp.” or “Buffalo” or “the Group” or “the Company”)
GRANT OF STOCK OPTIONS
TORONTO, ONTARIO – Marketwired - May 25, 2021: Buffalo Coal Corp. announces the grant of an
aggregate of 9,250,000 stock options to certain of its directors, officers and key management members.
Each stock option allows the holder thereof to acquire one common share of the Company at a price of
$0.02 per share and is exercisable for a period of four (4) years from the date of the grant. 8,350,000 of
the stock options granted will be exercisable following satisfactory attainment of certain key milestones
and 900,000 stock options will vest in annual tranches of 1/3 each commencing on May 24, 2022. These
stock option grants are governed by the Company’s stock option plan. “We are pleased to acknowledge
the efforts of several members of our Company through the granting of these stock options”, said Emma
Oosthuizen, Chief Executive Officer of the Company. “We have also designed the vesting of a significant
component of these stock options to be dependent on the achievement of key milestones in an effort to
ensure that stock option grants foster value creation for Buffalo’s stakeholders”, added Ms. Oosthuizen.
About Buffalo
Buffalo is a coal producer in South Africa. It holds a majority interest in two operating mines through its
100% interest in Buffalo Coal Dundee, a South African company which has a 70% interest in Zinoju. Zinoju
holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in South
Africa. Buffalo Coal has an experienced coal-focused management team.
The Company has its primary listing on the TSX Venture Exchange and has a secondary listing on the
Alternative Exchange, operated by the JSE Limited.
Neither the Toronto Venture Exchange, nor its regulation services provider (as that term is defined in the
policies of the exchange), accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Emma Oosthuizen
Chief Executive Officer
Email: Emma.Oosthuizen@buffalocoal.co.za
Registered office:
Greytown Road, Industrial Area
Dundee
Kwazulu-Natal
3000
25 May 2021
Designated Advisor:
Questco Corporate Advisory Proprietary Limited
Date: 25-05-2021 03:37:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
