EastCoal Inc Suspension of Trading of Shares (9445Q)
21 October 2013 - 5:45PM
UK Regulatory
TIDMECX
RNS Number : 9445Q
EastCoal Inc
21 October 2013
EastCaol Inc.
Placing Mining Operations under Care and Maintenance and
Suspension of Trading of Shares
21 October 2013
Vancouver, British Columbia - EastCoal Inc. (TSX VENTURE
EXCHANGE: ECX, AIM: ECX) ("the Company" or "EastCoal") announces
that it is placing its Verticalnaya mining operations in the
Ukraine under care and maintenance with immediate effect.
As previously noted in the Company's Management Discussion and
Analysis ("MD&A") dated August 29, 2013 and its further
announcement dated the October 10, 2013, the Company's continued
operations are dependent upon its ability to raise additional
funding. The Board explored a number of alternatives for future
financing but has been unable to conclude any arrangements to date.
As a result, the Board took the decision today to place the mining
operations under care and maintenance.
As a result of the financial uncertainty regarding the Company,
the Board has requested that trading in the Company's shares be
suspended on both the TSX Venture Exchange and AIM, pending
clarification of the Company's financial position. The Board,
however, continues to explore all alternatives available.
The Company further announces the resignation of both Mr. G
Cameron and Mr. F Moxon as Non-executive directors with immediate
effect.
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.
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance. There are numerous risks and uncertainties that could
cause actual results to differ materially from those expressed in
the forward looking information. These and all subsequent written
and oral forward-looking information are based on estimates and
opinions on the dates they are made and are expressly qualified in
their entirety by this notice. Except as required by law, EastCoal
assumes no obligation to update forward-looking information should
circumstances or management's estimates or opinions change.
For more information please contact:
EastCoal Inc.
Abraham Jonker, President and Acting CFO
+1 (604) 973 0079 / +1 (604) 992 5600 (Cell)
www.eastcoal.ca
Cenkos Securities plc
Ken Fleming
+44 (0) 207 397 8900
Alan Stewart/Derrick Lee
+44 (0) 131 220 6939
Tavistock Communications
Jos Simson/Emily Fenton/Mike Bartlett +44 (0) 207 920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
END
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