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Pacific Coal Resources Ltd. announces closing of US$4 million private placement and possible financing
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U...
About this update from Canter Resources Corp
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nTORONTO, June 3, 2013 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK) is\n pleased to announce closing of the previously announced private\n placement of units (the \"Offering\"). A total of 3,706,182 units have\n been issued to Pacific Power Generation Corp., a company existing under\n the laws of the Republic of Panama and the sole subscriber under the\n Offering, at a price of C$1.10 per unit for aggregate proceeds of\n US$4,000,000.\n\n\nEach unit consists of one common share of Pacific Coal and one common\n share purchase warrant of Pacific Coal. Each warrant entitles the\n holder to purchase one common share of Pacific Coal at an exercise\n price of C$1.10 until May 31, 2018.\n\n\nThe common shares and warrants issued pursuant to the Offering are\n subject to a four month hold period, expiring on October 1, 2013. After\n closing of the Offering, Pacific Coal will have at total of 49,724,290\n common shares issued and outstanding.\n\n\nThe Company is also pleased to announce that it has retained the\n financial advisory firm of LW Securities to explore alternatives to\n consolidate the Company's bank debt and reduce amounts owed to\n Masering, including a potential bond offering.\n\n\nAbout Pacific Coal Resources Ltd.\n\n\nPacific Coal Resources Ltd. is a Canadian-based mining company engaged\n in the acquisition, exploration and production of coal and coal-related\n assets from properties located in Colombia. The Company's common shares\n are listed on the TSX Venture Exchange and trade under the symbol\n \"PAK\".\n\n\nForward Looking Information:\n\n\nThis news release contains \"forward-looking information\", which may\n include, but is not limited to, statements with respect to the future\n financial or operating performance of the Company and its projects.\n Often, but not always, forward-looking statements can be identified by\n the use of words such as \"plans\", \"expects\", \"is expected\", \"budget\",\n \"scheduled\", \"estimates\", \"forecasts\", \"intends\", \"anticipates\", or\n believes\" or variations (including negative variations) of such words\n and phrases, or state that certain actions, events or results \"may\",\n \"could\", \"would\", \"might\" or \"will\" be taken, occur or be achieved.\n F...