CanAm Coal Reports on Warrant Exercise
FOR: CANAM COAL CORP.
MAY 4, 2012 - 09:01 ET
CALGARY, ALBERTA--(Marketwire - May 4, 2012) - CanAm Coal Corp. (TSX VENTURE:COE) (OTCQX:COECF) ("CanAm" or the "Company") is pleased to announce that it has raised $282,900 through the exercise of 1,886,000 warrants with an exercise price of $0.15. The warrants were associated with a 2010 round of financing and 77% of warrants expiring on April 28, 2012 were exercised. Proceeds will be used for general operating purposes.
"We are extremely pleased with the continued support of our existing shareholders", said Tim Bergen, CEO of CanAm.
About CanAm Coal Corp.
CanAm is a coal producer 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 four operating coal mines in Alabama and the Buick Coal Project which holds significant coal resources, 188 million indicated and 103 million inferred 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).
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 laws.