VANCOUVER, BC / ACCESSWIRE / September 19, 2017 / EastCoal Inc. (TSXV: ECX.H) (the "Company") announces a non-brokered private placement of up to 4,400,000 of its issued and outstanding common shares (the "Common Shares") at 5.5 cents per share for gross proceeds of CAD242,000.
The proceeds of the placing will be used to settle creditors and short-term working capital loans as well as to provide working capital for the next 12 months.
The private placement is subject to the necessary regulatory approval including acceptance of the financing by the NEX Board of the TSX Venture Exchange.
Subject to closing the 4,400,000 share offering, the Company will have 12,204,024 Common Shares in issue.
CONTACT DETAILS
Damien Forer Tel: 1 (604) 973-0079
Chief Financial Officer
Neither the TSX Venture Exchange nor its Regulation Service Provider accepts responsibility for the adequacy of accuracy of this release.
SOURCE: EastCoal Inc.
