Western Canadian Coal completes balance of $40 million financing


    VANCOUVER, Dec. 7 /CNW/ - Western Canadian Coal Corp (TSX: WTN and WTN.DB
and AIM: WTN) ("Western" or "Company") is pleased to announce by way of update
to its news release on December 3, 2007, that the Company has completed the
final $10 million of the oversubscribed $40 million private placement of
Convertible Debentures ("Debentures") with a group of investors.
    The Debentures issued by way of private placement are unsecured, will
bear interest at 8.5% per annum, payable semi-annually beginning May 31, 2008,
and will mature November 30, 2010. The Debentures are convertible into common
shares of the Company at any time prior to their maturity at a conversion
price of $0.75 per share. The Debentures are not redeemable by Western prior
to their maturity. The issuance of the Debentures has been approved by the
Toronto Stock Exchange.
    Proceeds of the issue along with the previously completed $30 million
private placement announced on December 3, 2007 will be used for working
capital requirements at the Company's Wolverine coal mine, for general
corporate purposes and to reduce the current level of the principal and
interest due under its existing bank debt. The bank debt will be reduced from
$35 million to $27.5 million. The Company has also renegotiated covenants in
their lending agreements to ensure compliance going forward.

    About Western Canadian Coal

    Western Canadian Coal Corp. produces 3.4 million tonnes of high quality
metallurgical coal from two mines located in the northeast of British
Columbia. The company also has interests in various coal properties in
northern and southern British Columbia and a 50% interest in the Belcourt
Saxon Limited Partnership, which was formed to explore and develop the
Belcourt and Saxon group of properties in northern BC. Currently, these
properties provide the company with an estimated 25 years of coal reserves.

    Cautionary Statements

    The information in this news release contains certain forward-looking
statements that involve substantial known and unknown risks and uncertainties,
which are beyond Western's control, including the price of coal, risks
relating to the exploration and development of coal deposits, and other risk
factors outlined in Western's Annual Information Form available on SEDAR at
www.sedar.com. Western's actual results and performance could differ
materially from those expressed in, or implied by, such forward-looking
statements and, accordingly, no assurance can be given that any of the events
anticipated by the forward-looking statements will transpire or occur or, if
any of them do, what benefits Western will derive from them. This press
release is neither an offer to purchase securities nor a solicitation of an
offer to sell securities.

For further information:

For further information: David Jan, Manager, Investor Relations &
Corporate Development, (604) 608-2692, djan@westerncoal.com

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