Royal Coal Corp. Issues Shares to Novadx Ventures Corp.
27.01.2012 | Marketwire
TORONTO, Jan. 27, 2012 - Royal Coal Corp. (“Royal Coal“) (TSX VENTURE: RDA) (FRANKFURT: RLC), a US Central Appalachian producer of high BTU, low sulphur thermal coal, is pleased to announce that it has issued 15,000,0000 common shares to Novadx Ventures Corp. (“Novadx“) - (TSX VENTURE: NDX) in accordance with the agreement between Royal Coal and Novadx the details of which were previously announced December 28, 2011. Under the agreement, Royal Coal will mine and sell the coal at certain leases (the “Leases“) held by Novadx and the Ikerd Group of Companies (“Ikerd“) in Kentucky, USA on a contract basis, including the Flatwoods and Elk Creek mines which are in production. Subject to regulatory approval, an additional 5 million common shares will by issuable by Royal Coal to Novadx if the average closing price of Royal Coal's common shares is not greater than $0.10 per share over a 30-day period commencing 150 days after the date hereof.About Royal Coal
Royal Coal is a coal exploration and production company, headquartered in Toronto, Ontario, Canada with a regional office in Hazard, Kentucky, U.S.A. whose primary business focus is developing producing surface coal mining operations in the Central Appalachian coal producing region of the United States, which includes parts of West Virginia, Virginia, Kentucky, Ohio, and Tennessee.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Contact Information
Royal Coal Corp.
Tom Griffis, Chairman of Royal Coal
(416) 861-8775
www.royalcoal.com
Royal Coal Corp.
Richard Buzbuzian, Investor Relations
(647) 501-3290