CanAm Coal Corp.
TSX VENTURE : COE

CanAm Coal Corp.

September 15, 2010 09:01 ET

CanAm Coal Corp. Reports on Warrant Exercise

CALGARY, ALBERTA--(Marketwire - Sept. 15, 2010) - CanAm Coal Corp. (TSX VENTURE:COE) ("CanAm" or the "Company") is pleased to announce that it has raised $2,226,500 in funds through the exercise of warrants. Total warrants of 32,360,200, or 99% of warrants issued, were exercised. Insiders exercised 5,150,100 warrants (or 100% of warrants issued to insiders) for total proceeds of $360,507. Following the exercise of their warrants, officers and directors now own 12% of the common shares of the Company.

"We are extremely pleased with the continued support of our existing shareholders and the $2.2 million will provide us with additional financial flexibility to not only execute on the buy-out of our partner (announced on July 5, 2010) and upgrade our existing equipment fleet but also pursue our overall expansion and acquisition strategy", said Linden Swensen, President of CanAm.

About CanAm Coal Corp.

CanAm is a coal marketing and development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. CanAm's main activities and assets include its 49% owned Alabama coal operations, the exclusive rights to a proprietary Coal to Liquids technology which converts coal into liquid fuels (such as oil, jet fuel) at an economical cost with zero airborne emissions and the Buick Coal Project which holds significant coal resources, 188 million tons of indicated and 103 million tons of inferred coal resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities law.

Neither the 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 release.

Contact Information

  • CanAm Coal Corp.
    Corporate Head Office
    Linden Swensen, President
    403.262.3797 or Toll Free: 1.877.262.5888
    tbergen@canamcoal.com