Suche
 
Folgen Sie uns auf:

EastCoal Inc.: Warrant Exercises

18.10.2011  |  Marketwired
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

VANCOUVER, BRITISH COLUMBIA -- (Marketwire - Oct. 18, 2011) - EastCoal Inc. (TSX VENTURE: ECX) (the "Company" or "EastCoal") is pleased to report that it has received proceeds of approximately $19.6 million from the exercise of warrant shares during fiscal 2011, including $5.9 million received in October 2011. In all, approximately 68 million warrant shares, representing 97% of all warrant shares outstanding, were exercised. The balance of the warrant shares expired unexercised.

As a result of the warrant exercises, the Company now has 195.2 million common shares issued and outstanding. A total of 7,225,000 outstanding stock options, with exercise prices ranging from $0.30 to $0.75 per common share, expire between 2012 and 2016.


The President of EastCoal, Mr. John Byrne, commented:

"We are pleased with the response of the warrant holders. Cash on hand currently totals approximately $16.9 million. The Company continues to work towards first coal production in 2012, with the new wash plant due to be installed and operational later this year."


By Order of the Board,

John Byrne
Chairman and CEO



About EastCoal Inc.

The Company changed its name to EastCoal Inc. in early 2011, to reflect its new strategy of developing coal operations. It is focused on the Donbass coal basin of Ukraine which has large coal reserves and excellent prospects.

EastCoal Inc. is currently developing its 100% owned Verticalnaya anthracite mine.



THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

Neither 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.




Contact Information

EastCoal Inc.
John Byrne, Chairman and CEO
604-681-8069
604-685-4675 (FAX)
www.eastcoal.ca
Bewerten 
A A A
PDF Versenden Drucken

Für den Inhalt des Beitrages ist allein der Autor verantwortlich bzw. die aufgeführte Quelle. Bild- oder Filmrechte liegen beim Autor/Quelle bzw. bei der vom ihm benannten Quelle. Bei Übersetzungen können Fehler nicht ausgeschlossen werden. Der vertretene Standpunkt eines Autors spiegelt generell nicht die Meinung des Webseiten-Betreibers wieder. Mittels der Veröffentlichung will dieser lediglich ein pluralistisches Meinungsbild darstellen. Direkte oder indirekte Aussagen in einem Beitrag stellen keinerlei Aufforderung zum Kauf-/Verkauf von Wertpapieren dar. Wir wehren uns gegen jede Form von Hass, Diskriminierung und Verletzung der Menschenwürde. Beachten Sie bitte auch unsere AGB/Disclaimer!




Mineninfo
CoTec Holdings Corp.
Bergbau
A3CZB1
CA22165A1021
Minenprofile
Alle Angaben ohne Gewähr! Copyright © by GoldSeiten.de 1999-2024.
Die Reproduktion, Modifikation oder Verwendung der Inhalte ganz oder teilweise ohne schriftliche Genehmigung ist untersagt!

"Wir weisen Sie ausdrücklich auf unser virtuelles Hausrecht hin!"