TORONTO,
Feb. 19, 2013 /CNW/ - 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.
SOURCE Pacific Coal Resources Ltd.