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| Home : Prophecy Provides Update on Closing of $1.14 Million Final Tranche of Private Placement |
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May 31
2013 |
Prophecy Provides Update on Closing of $1.14 Million Final Tranche of Private Placement |
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VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 31, 2013) - Prophecy Coal Corp. ("Prophecy" or the "Company") (TSX:PCY)(OTCQX:PRPCF)(FRANKFURT:1P2) provides the following update on the private placement which was the subject of its February 7 and April 16, 2013 news releases (the "Placement").
Prophecy expects shortly to close a second and final tranche of the Placement, which will involve the issuance of 8,142,857 units (each a "Unit") of the Company for aggregate consideration of $1,140,000. Each Unit consists of one common share (a "Share") and 0.75 common share purchase warrant (a "Warrant"), at a purchase price of $0.14 per Unit. Each whole Warrant is exercisable for one common share of Prophecy at a price of $0.18, expiring two years from the date of issue. It is anticipated that the final tranche closing will happen during the week of June 2-June 8, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1796797&sourceType=3 |
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