This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Significant Investor Announces Exercise Of 12.7 Million Options Following Funding Announcement

Highlights:

  • Highland Park exercised its option to purchase an additional 12.7 million shares in the Company
  • Following the transaction Highland Park owns approximately 153.8 million shares or approximately 24.3% of the outstanding shares in Coalspur

CALGARY, Jan. 9, 2013 /CNW/ - Coalspur Mines Limited ("Coalspur") (ASX: CPL, TSX: CPT) is pleased to announce that its largest shareholder, the Highland Park Group ("Highland Park") has elected to exercise its option to purchase an additional 12,724,669 ordinary shares in the Company at an exercise price of A$0.70 per share through its affiliate Borrowdale Park S.A. The exercise of the options followed the announcement of the commitment from EIG Global Energy Partners to provide Coalspur with a US$300 million senior debt facility on December 20, 2012.

The exercise of the options means Highland Park now owns a total of 153,840,202 ordinary shares in the Company, which represents approximately 24.3% of the ordinary shares currently outstanding.

President and CEO, Gill Winckler said "We are extremely pleased to have Highland Park increase their holdings in Coalspur as it demonstrates their continued support of the Company and management as we move towards construction of the Vista coal project."

The Company also advises that a further 602,666 shares will be issued for options which were transferred to other parties by Borrowdale Park and have been exercised by the transferees. The Company will issue the shares in respect of these options, which also had an exercise price of A$0.70 per share, when the registration process is completed.

Total net proceeds from the exercise of the options are approximately A$9.4 million.

The full version of this news release is available on the Company's website at www.coalspur.com and SEDAR at www.sedar.com.



1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs