Cobalt Coal Corp. Announces Proposed Share Consolidation
5/17/2011 8:00:07 AM - Market Wire
CALGARY, ALBERTA, May 17, 2011 (Marketwire via COMTEX News Network) --
Cobalt
Coal Corp. ("Cobalt" or the "Company") (TSX VENTURE:CBT), announces
that the Board of Directors has come to the conclusion that in order to
re-capitalize the Company, a share consolidation will be necessary. As a
result, Shareholders will be asked to consider a Consolidation
Resolution at the Annual and Special Meeting of Shareholders to be held
on June 29, 2010. The Consolidation Resolution will authorize the
Company to amend its articles to effect a consolidation
("Consolidation") of the common shares on the basis ten (10) common
shares into one (1) new common share in the capital of the Company.
About Cobalt:
Cobalt
is a publicly traded coal exploration and production company
headquartered in Calgary, Alberta, Canada with a regional office in
Welch, West Virginia USA. Cobalt was created in August 2007 to
capitalize on the growth opportunities that exist in the modem
metallurgical coal mining industry.
The securities of Cobalt
being offered have not been, nor will 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.
READER ADVISORY
Statements
in this news release may contain forward-looking information including
the timing of closing of the Offering and the intended use of proceeds
of the Offering. The reader is cautioned that assumptions used in the
preparation of such information may prove to be incorrect. Events or
circumstances may cause actual results to differ materially from those
predicted, a result of numerous known and unknown risks, uncertainties,
and other factors, many of which are beyond the control of the Company.
These risks include, but are not limited to, the risks associated with
the coal mining industry, commodity prices and exchange rate changes.
Industry related risks could include, but are not limited to,
operational risks in exploration, development and production, delays or
changes in plans, risks associated to the uncertainty of reserve
estimates, health and safety risks and the uncertainty of estimates and
projections of production, costs and expenses. The reader is cautioned
not to place undue reliance on this forward-looking information.
SOURCE: Cobalt Coal Corp.
Cobalt
Coal Corp. Mike Crowder CEO 304-436-2390 mike@newtechmining.eom Cobalt
Coal Corp. Michael Marshall Investor Relations 403-616-8918
investors@cobaltcoalcorp.com
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