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SOURCE Pacific Coal Resources Ltd.
TORONTO, Feb. 19, 2013 /PRNewswire/ - Pacific Coal Resources Ltd. (TSXV: PAK)
announces the voluntary delisting of 74,749,976 warrants, being all of
the Company's warrants currently trading on the TSX Venture Exchange
under the symbol PAK.WT. Due to the minimal trading volume of the
warrants, the Company is electing to delist the warrants to further its
ongoing cost reduction initiative undertaken in 2012. The warrants are
expected to be delisted at market close on March 18, 2013, being 20 trading days following the date of this release, as required
by the TSXV.
Options
The Company also announces that on January 22, 2013 it granted options
to purchase 400,000 common shares of the Company to newly appointed
officers of the Company, subject to regulatory approval. The stock
options were granted pursuant to the Company's stock option plan and
are exercisable at a price of $0.25 per share, set to expire on January
22, 2018.
On October 30, 2012, the Company granted options to purchase 4,000,000
common shares of the Company to a newly appointed officer of the
Company, subject to regulatory approval. The stock options were granted
pursuant to the Company's stock option plan and are exercisable at a
price of $0.11 per share, set to expire on October 30, 2017.
About Pacific Coal Resources Ltd.
Pacific Coal Resources Ltd. is a Canadian-based mining company engaged
in the acquisition, exploration and production of coal and coal-related
assets from properties located in Colombia. The Company's common shares
and warrants are listed on the TSX Venture Exchange and trade under the
symbol "PAK" and "PAK.WT" respectively.
Forward Looking Information:
This news release contains "forward-looking information", which may
include, but is not limited to, statements with respect to the future
financial or operating performance of the Company and its projects.
Often, but not always, forward-looking statements can be identified by
the use of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
believes" or variations (including negative variations) of such words
and phrases, or state that certain actions, events or results "may",
"could", "would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of Pacific Coal to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Forward-looking statements
contained herein are made as of the date of this press release and
Pacific Coal disclaim, other than as required by law, any obligation to
update any forward-looking statements whether as a result of new
information, results, future events, circumstances, or if management's
estimates or opinions should change, or otherwise. There can be no
assurance that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is cautioned
not to place undue reliance on forward-looking statements.
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 news release.
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