Grande Cache Coal Corporation

Grande Cache Coal Corporation

March 29, 2006 15:24 ET

Grande Cache Coal Corporation Announces Amendment and Extension of Secured Credit Facility

CALGARY, ALBERTA--(CCNMatthews - March 29, 2006) - Grande Cache Coal Corporation (TSX:GCE) ("Grande Cache Coal" or the "Corporation") is pleased to announce that the Corporation has amended and extended its secured credit facility with Brookfield Bridge Lending Fund, principally to increase the size of the revolving facility from $10 million to $15 million and to extend the maturity date of the facility to April 8, 2007, subject to a further one year extension option.

The restated credit facility consists of a $10 million term facility and a $15 million revolving facility. Interest is payable monthly at a rate of prime plus 2% per annum. The facility is secured by a general security agreement and has a maturity date of April 8, 2007, subject to a further one year extension option.

Grande Cache Coal is an Alberta based metallurgical coal mining company whose experienced team of coal professionals have developed a sustainable, long-term mining operation to produce metallurgical coal for the export market from coal leases covering over 18,200 hectares in the Smoky River Coalfield located in west-central Alberta. Grande Cache Coal's common shares are listed on the Toronto Stock Exchange under the trading symbol "GCE".

Contact Information

  • Grande Cache Coal Corporation
    Rhonda M. Bennetto
    Director, Investor & Corporate Relations
    (403) 705-3803
    (403) 543-7092 (FAX)