Xinergy Ltd. Announces Completion of Option Exchange Program
23.12.2014 | Marketwire
KNOXVILLE (Dec 23, 2014) - Xinergy Ltd. (TSX:XRG) (the "Company"), a Central Appalachian coal producer, announces that it has completed its option exchange program (the "Program") which was previously approved by disinterested shareholders at the Company's annual and special meeting held on June 11, 2014. Pursuant to the terms of the Program, an aggregate of 2,916,152 options to purchase common shares of the Company ("Options") were exchanged for an aggregate of 1,714,706 Options. Each of the exchanged Options will allow the holder to purchase a common shares of the Company at a price of $0.10 per share. For further detail on the Program, please refer to the Company's management information circular dated May 7, 2014, which is available on the Company's SEDAR profile at www.sedar.com.About Xinergy Ltd.
Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in West Virginia and Virginia. Xinergy sells high quality metallurgical and thermal coal to electric utilities, steelmakers, energy trading firms and industrial companies. For more information, please visit www.xinergycorp.com.
Contact
Xinergy Ltd.
G. L. "Bernie" Mason, Chief Executive Officer
Xinergy Ltd.
Michael R. Castle, Chief Financial Officer
Xinergy Ltd.
Robert L. Gaylor, Executive Vice President
865-474-7000
www.xinergycorp.com