Prophecy to Trade on Toronto Stock Exchange Starting October 19
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/18/11 -- Prophecy Coal Corp. ('Prophecy') (TSX VENTURE: PCY)(OTCQX: PRPCF)(PINK SHEETS: PRPCF)(FRANKFURT: 1P2) (the 'Company') is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange ('TSX') under its current trading symbol 'PCY' starting Wednesday, October 19, 2011. The Company's shares will be delisted from the TSX Venture Exchange upon commencement of trading on the TSX.
John Lee, CEO and Chairman of Prophecy Coal, states: 'TSX is the premier global exchange for the mining industry. The high standards embraced by the TSX should improve Prophecy's trading efficiency and liquidity, strengthen access to capital markets, and broaden the Company's market exposure. The Company continues to achieve major milestones and expects to hear from the Mongolian government regarding license issuance of the Company's flagship Chandgana power plant project soon.'
Prophecy is also pleased to announce the appointments of Mr. Patrick Langlois as Vice President, Corporate Development and Mr. Joseph Li to its Board of Directors.
Mr. Langlois has extensive investment banking and venture capital experience, with past roles that have included Director of Investment Banking at Stonecap Securities and Managing Director of Investment Banking at Laurentian Bank Securities. Patrick has provided corporate finance expertise across a broad spectrum of industries, advising numerous corporations regarding public offerings, private placements, as well as mergers and acquisitions. Mr. Langlois, based in Toronto, joins Prophecy on a full time basis and holds an M.B.A. from Universite de Sherbrooke, as well as a CFA designation and membership in the CFA Institute. Mr. Langlois has been granted 300,000 options at $0.77 per share with a 2 year vesting schedule for a period of five years, subject to regulatory approval.
Mr. Li is a Certified General Accountant (B.C.) and has a B.Com (Hons) from Laurentian University. For 13 years, Joseph was a Senior Auditor with the B.C. Ministry of Finance, a position which allowed him to gain valuable insight into how diverse businesses and organizations of all sizes are operated. Mr. Li has been the General Manager and Corporate Secretary of Prophecy Coal Corp. since January, 2011, and oversaw the successful spinoff of Prophecy Platinum Corp.
About Prophecy Coal
Prophecy Coal Corp. is a Canadian listed company engaged in developing energy projects in Mongolia. The Company has over 1.4 billion tonnes of surface minable thermal coal resources on two coal properties in Mongolia. Prophecy Coal's Ulaan Ovoo coal mine is in production and Chandgana mine mouth power plant is currently being permitted. Prophecy Coal is the controlling shareholder of Prophecy Platinum Corp. (TSX VENTURE: NKL). Mineral resources that are not mineral reserves do not have demonstrated economic viability. Further information on Prophecy Coal can be found at www.prophecycoal.com.
ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Coal Corp.
John Lee, CEO/Chairman
'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.'
Contacts:
Prophecy Coal Corp.
Chris Ackerman
Manager, Investor Relations
1-800-459-5583
cackerman@prophecycoal.com
www.prophecycoal.com
