TORONTO, Sept. 11 /CNW/ - Pala Investments Holdings Limited ("PIHL")
announced today that it has entered into a binding private agreement to
acquire 9,622,400 common shares of Coalcorp Mining Inc. ("Coalcorp") dated
September 10, 2008. This acquisition increases PIHL's securities ownership in
Coalcorp to 41,611,724 common shares and 14,826,110 common share purchase
warrants. As known by PIHL, PIHL owns and controls approximately 24.05% of the
issued and outstanding common shares of Coalcorp on a non-diluted basis, and
30.05% of the issued and outstanding common shares of Coalcorp on a partially
diluted basis, with such percentage including the common share purchase
warrants owned and controlled by PIHL.
PIHL acquired the Shares pursuant to a private agreement for investment
purposes only. PIHL may acquire additional securities if they become available
at prices that are attractive to PIHL.
For further information:
For further information: Jan Castro at 011 41 41 560 9070