Coalcorp announces shareholder approval of proposed transaction

TORONTO, Feb. 11 /CNW/ - Coalcorp Mining Inc. ("Coalcorp" or the "Company") (TSX-CCJ) announces that the previously announced proposed sale by Coalcorp's subsidiaries of the La Francia mine and related infrastructure assets, including Concession 5160, and all of the issued and outstanding shares of Adromi Capital Corp., the holder of the La Francia II concession, to a subsidiary of The Goldman Sachs Group, Inc. (the "Proposed Transaction"), received overwhelming approval by the requisite majority of Coalcorp shareholders at a duly constituted special meeting of shareholders held in Toronto on February 11, 2010. Full details of the Proposed Transaction are described in the Management Information Circular mailed to shareholders on January 21, 2010 as well as in the press release issued by the Company on February 3, 2010, both of which have been filed on SEDAR at

The Proposed Transaction remains subject to receipt of certain Colombian governmental approvals and third party consents and upon their receipt, is expected to close near the end of February, 2010.

About Coalcorp

Coalcorp is currently a coal mining, exploration and development company with interests in the La Francia coal mine and related infrastructure projects and a number of coal exploration properties, all located in Colombia. Coalcorp also holds a 60% equity interest in Carbones Colombianos del Cerrejon which owns the La Caypa coal mine in Colombia. Further information can be obtained by visiting our website at or under the Company's profile at

Forward Looking Statements Disclaimer

Statements made in this news release may be forward-looking and therefore subject to various risks and uncertainties. Certain material factors or assumptions are applied in making forward-looking statements and 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: Juan Carlos Gomez, Interim Chief Executive Officer, +57-1-658-5050 Ext: 9990

Organization Profile

Coalcorp Mining Inc.

More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890