Cobalt Coal Ltd. Announces Senior Facility Extension
18 Dezember 2013 - 7:01PM
Marketwired
Cobalt Coal Ltd. Announces Senior Facility Extension
CALGARY, ALBERTA--(Marketwired - Dec 18, 2013) - Cobalt Coal
Ltd. ("Cobalt") (TSX-VENTURE:CCF), announces that it has entered
into an extending agreement with the provider of its senior credit
facility. The agreement extends the repayment date of the existing
$1,750,000 USD facility to February 28, 2014.
Included in the extension agreement is a provision whereby the
senior lender will make a drilling fund available to Cobalt in the
amount of $150,000 USD and is subject to certain conditions.
Certain of the fees, together with any advances made under the
drilling fund, will be added to the principal amount of the
facility and will be payable at maturity.
About Cobalt
Cobalt is a publicly traded coal exploration and production
company headquartered in Calgary, Alberta, Canada. Cobalt was
created to capitalize on the growth opportunities that exist in the
metallurgical coal mining industry.
Neither TSX Venture Exchange nor its regulation/service
provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
READER ADVISORY
Statements in this news release may contain forward-looking
information. 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.
Cobalt Coal Ltd.Al KroontjeDirectorOffice:
403-607-4009al@kasten.caCobalt Coal Ltd.Robert GilliesCFOOffice:
403-538-8455bob.gillies@sympatico.caCobalt Coal Ltd.Mike
CrowderPresident & CEOOffice:
423-323-2396mike@cobaltcoalcorp.com
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