PANAMA, Dec. 9, 2014 /CNW/ - Borrowdale Park S.A. ("Borrowdale") announced that on December 4, 2014 it disposed of an aggregate of 22,936,900 ordinary shares of Coalspur Mines Limited (the "Issuer"). The shares were disposed of in connection with a distribution of the shares to the principals of Borrowdale (the "Disposition"). In addition, Borrowdale has entered into an agreement with the Issuer to cancel, for no consideration, 14,000,000 share purchase warrants and, 12,000,000 unlisted options of the Issuer (the "Cancellation").
Immediately following the Disposition and Cancellation, Borrowdale owned and controlled 130,903,302 shares of the Issuer, representing approximately 20.4% of the issued and outstanding shares of the Issuer.
The shares of the Issuer are listed on the Toronto Stock Exchange under the symbol "CPT" and on the Australian Securities Exchange under the symbol "CPL". Borrowdale acquired the shares for investment purposes and may acquire ownership of, or control over, or dispose of, additional securities of the Issuer in the future.
An Early Warning Report in respect of the Disposition and Cancellation has been filed on the System for Electronic Document Analysis and Review under the Issuer's profile and can be viewed at www.sedar.com.
The issuance of the news release is not an admission that an entity named in the news release owns or controls any described securities or is a joint actor with another named entity.
Neither the Toronto Stock Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy of this release.
SOURCE: Borrowdale Park S.A.
For further information: Mr Denis Sek Sum, Suite 308, St James Court, St Denis Street, Port Louis, Mauritius, Tel: +230 2116242