EastCoal Inc Court Approval for Disposal and Extension (9515X)
January 17 2014 - 7:00AM
UK Regulatory
TIDMECX
RNS Number : 9515X
EastCoal Inc
17 January 2014
NEWS RELEASE - January 17, 2014
EASTCOAL ANNOUNCES APPROVAL OF COURT APPLICATION
EastCoal Inc. (TSX-V: ECX, AIM: ECX) ("EastCoal" or the
"Company") announces that on January 16, 2014 the Supreme Court of
British Columbia (the "Court") issued a court order approving the
Company's application for the sale of its subsidiaries as announced
on January 16, 2014 (the "Disposals"). In addition, the Court
issued the Company with a 46 day extension to make a proposal to
its creditors under the Bankruptcy and Insolvency Act (Canada)
("BIA"). The extension has the effect of allowing the Company until
March 3, 2014 in which to make a proposal to creditors.
The Company has also received conditional approval of the TSX
Venture Exchange for the Disposals.
Contacts:
EastCoal Inc.
Abraham Jonker, President +1 (604) 681-8069
Cenkos Securities plc
Alan Stewart/Derrick Lee +44 (0) 131 220 6939
Neither the 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.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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