TORONTO, July 16 /CNW/ - Coalcorp Mining Inc. ("Coalcorp" or the "Company") (TSX-CCJ) announces that its securities will be delisted from the Toronto Stock Exchange ("TSX") effective from close of trade on August 16, 2010 as the Company is not currently able to meet the continued listing requirements of the TSX.
Coalcorp is in the process of applying to list its securities on NEX and intends to obtain listing on NEX effective from start of trade on August 17, 2010.
The board of directors of Coalcorp (the "Board") is evolving the prior announced strategy for the Company which will continue to capitalize on the Board's and management's expertise and Company capital to invest in projects in the mining, metallurgical and mineral industries. Coalcorp holds an investment in Formation Metals Inc. (TSX-FCO).
It is the Company's intention to apply for a listing on the TSX Venture Exchange or the TSX at such time as it is able to meet the applicable listing requirements.
Forward Looking Statements Disclaimer
Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Such statements can typically be identified by terminology such as "may", "will", "could", "should", "expect", "plan", "anticipate", "believe", "intend", "possible", "continue", "objective" or other similar expressions concerning matters that are not historical facts and include statements related to the investment and proposed strategy of the company. Certain material factors or assumptions are applied in making forward-looking statements such as the availability of resources and opportunities, management expertise and the viability of the Company's strategy. Actual results may differ materially from those expressed or implied in such statements. Coalcorp does not undertake to update any forward-looking statements; such statements speak only as of the date made.
SOURCE Coalcorp Mining Inc.
For further information: For further information: Steven Cresswell, Interim Chief Executive Officer, 416-644-1217