Pacific Coal Announces Purchase of Common Shares and Warrants by
Blue Pacific
TORONTO,
Oct. 30, 2012 /CNW/ - Pacific Coal
Resources Ltd. (TSXV: PAK) announced today that it has been
informed by one of the Company's principal shareholders, Blue
Pacific Investments Group, Ltd., that it has purchased 19,750,000
common shares in the capital of the Company at $0.11 per common share and 20,374,998 common
share purchase warrants at $0.005 per
warrant. The purchase was a private transaction facilitated through
GMP Securities L.P. As a result of this purchase, Blue Pacific
currently owns 88,750,000 common shares, which is approximately
27.56% of the issued and outstanding common shares of the
Company.
The common shares and warrants are listed on the
TSXV under the trading symbols "PAK" and "PAK.WT" respectively. The
closing price of the common shares and warrants on October 29, 2012 was $0.11 and $0.005
respectively.
About Pacific Coal Resources Ltd.
Pacific Coal Resources Ltd. is a
Canadian-based mining company focused on coal, coking coal, asphalt
and asphaltite exploration, development and production from
prospective producing, development-stage and exploration-stage
properties in Colombia. The
Company has acquired or entered into agreements to acquire various
interests in several operating coal mines and projects,
representing a substantive coal and asphaltite exploration and
production area throughout Colombia. Pacific Coal is committed to
implementing its exploration and development strategy with a
comprehensive environment, safety and community program, meeting
international standards of best practice.
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.
SOURCE Pacific Coal Resources Ltd.