Pacific Coal Resources Ltd. Announces Purchases Under Normal Course Issuer Bid

About this update from Canter Resources Corp

[{"type":"text","content":"\n\n\n\n\n\nTORONTO, Sept. 8, 2011 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK)\n announced today that it has purchased for cancellation 118,500 common\n shares in the capital of the Company at an average price of $0.567\n under its previously announced normal course issuer bid with the TSXV.\n\n\nUnder the bid, the Company is entitled to purchase for cancellation up\n to a maximum of 10% of common shares that comprise the Company's Public\n Float (as such term is defined in the TSXV Corporate Finance Manual)\n through the facilities of the TSXV until the earlier of July 3, 2012 or\n the date on which the Company has purchased the maximum number of\n common shares permitted under the bid.\n\n\nManagement and the board of directors of the Company feel that the\n Company's current valuation on the TSXV does not reflect the intrinsic\n value of the assets held by Pacific Coal, nor the future prospects, and\n strongly believes the above purchase is an appropriate use of cash at\n this time.\n\n\nAbout Pacific Coal Resources Ltd.\n\n\nPacific Coal Resources Ltd. is a Canadian-based mining company focused\n on coal, coking coal, asphalt and asphaltite exploration, development\n and production from prospective producing, development-stage and\n exploration-stage properties in Colombia. The Company has acquired or\n entered into agreements to acquire various interests in several\n operating coal mines and projects, representing a substantive coal and\n asphaltite exploration and production area throughout Colombia. Pacific\n Coal is committed to implementing its exploration and development\n strategy with a comprehensive environment, safety and community\n program, meeting international standards of best practice.\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...

More updates from Canter Resources Corp