VANCOUVER, Feb. 11 /CNW/ - Western Coal Corp. (TSX: WTN, WTN.DB & WTN.WT and AIM: WTN) ("Western") announces it has acquired an additional 4,000,000 common shares of Mandalay Resources Corporation (TSV.V: MND) ("Mandalay") representing approximately 4.0% of outstanding common shares of Mandalay on an undiluted basis (calculated based on 98,852,850 outstanding common shares of Mandalay), through the exercise of 4,000,000 warrants of Mandalay at the exercise price of $0.31 per share. Western currently owns or controls 48,000,000 common shares of Mandalay, representing approximately 48.6% of Mandalay's currently outstanding common shares on an undiluted basis.
This press release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which requires an early warning report to be filed on SEDAR (www.sedar.com) containing additional information with respect to the foregoing matters.
Mandalay Resources is a Canadian-based natural resource company with assets in-production. The Company is focused on executing a roll-up strategy which involves aggregation of gold and copper projects, creating critical mass through the acquisition of near-term or in-production assets in Australia and the Americas. For more information visit www.mandalayresources.com
Western is a producer of high quality metallurgical and thermal coal from mines located in northeast British Columbia (Canada) and West Virginia (USA). The mines have the capacity to produce 7 million tonnes per year and have over 20 years of coal reserves. Western also owns approximately 55% of Energybuild (EBG: AIM) which produces high quality anthracite and thermal coal in South Wales (UK). Other interests owned include a 42% interest in Xtract Energy (XTR: AIM), 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX). The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at www.westerncoal.com
SOURCE WESTERN COAL CORP.
For further information: For further information: David Jan, Director, Investor Relations, Phone: (604) 694-2891, Email: email@example.com