Purchase of Pacific Coal common shares by directors
TORONTO, Aug. 14, 2012 /PRNewswire/ – Pacific Coal Resources Ltd. (TSXV: PAK)
announced today that two of its directors, Mr. Serafino Iacono and Mr.
Ronald Pantin have purchased 535,500 and 1,110,000 common shares of the
Company, respectively, on the open market at an average price of
$0.1675 and $0.1748, respectively. In addition to the common shares
owned, directly or indirectly, by each of them prior to their
appointment as directors of the Company, they collectively now own,
directly or indirectly, approximately 3.25 million common shares of the
Company, being approximately 1% of the current issued and outstanding
shares of the Company. The purchase is a reflection of their commitment
and long-term confidence in the Company.
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.