Coalcorp Announces Exercise of Over-Allotment Option


    TORONTO, June 27 /CNW/ - Coalcorp Mining Inc. (TSX: CCJ) announced today
that the over-allotment option granted to the underwriters in connection with
the company's public offering of units was exercised in respect of
10,000,000 common shares and 10,000,000 warrants for additional gross proceeds
of $18,000,000, bringing the aggregate gross proceeds to Coalcorp under the
offering to $138,060,000. The initial issue and sale of 66,700,000 units (each
unit comprised one common share and one warrant) was completed on 
June 5, 2008. The securities were sold through a syndicate of underwriters led
by GMP Securities L.P. and included Canaccord Capital Corporation, Loewen,
Ondaatje, McCutcheon Limited and Macquarie Capital Markets Canada Ltd.
    The units, common shares and warrants have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons absent U.S. registration or an applicable exemption
from U.S. registration requirements. This release does not constitute an offer
for sale of securities in the United States.

    Coalcorp is a coal mining, exploration and development company with
interests in the La Francia and La Caypa coal mines and related infrastructure
projects and a number of coal exploration properties, all located in Colombia.
Further information can be obtained by visiting our website

    %SEDAR: 00004043E

For further information:

For further information: Michael Davies, Chief Financial Officer, (416)

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