DGAP-News: ICHOR Coal N.V. / Key word(s): Acquisition ICHOR Coal N.V.: Ichor Coal N.V. finishes acquisition of 30 per cent of Mbuyelo Coal (Pty) Ltd. 30.11.2012 / 16:19
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- The investment was financed by successful top-up of EUR 80 million bonds Berlin, 30 November 2012: Ichor Coal N.V., an internationally operating mineral resource company announces the closure of the purchase of 30 per cent of the shares from a capital increase of Mbuyelo Coal (Pty) Ltd., a South African coal mining company. The financing of this transaction was generated by the top-up of EUR 80 million bonds scheme issued by Ichor Coal N.V. in June 2012 (EO-Conv. Bonds 2012/17, WKN A1G4Z1). This investment will give IchorCoal access to nine different coal mines and projects in South Africa. The transaction was initially structured via a convertible bond issued by Mbuyelo Coal and subscribed by IchorCoal. With the finalisation of a corporate restructuring and a positive assessment of different expert opinions with regard to the validation and the evaluation of the coal resources, Ichor Coal converted the bond into equity and initiated a share capital increase. IchorCoal now owns a 30 per cent stake of Mbuyelo Coal. Both main shareholders, Mbuyelo Group and IchorCoal, plan to carry out further exploration and exploitation of the existing coal resources. 'The investment is another cornerstone in the strategic cooperation between IchorCoal and Mbuyelo Group' says Heinz Schernikau, CEO of IchorCoal, 'On top of the one mine already producing we are expecting to bring a further three out of the nine coal mines into production in 2013'. About ICHOR COAL N.V. ICHOR COAL N.V. is an internationally operating mineral resource company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure own coal-resources, to gain control along the value chain and to sell the produced coal on the international markets. In consideration of the global rise in demand for coal, market chances are vast and entrepreneurial action is essential and bears excellent prospects. The company is lead by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although ICHOR believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that ICHOR fails to raise sufficient capital to adequately fund its activities. Contact: ICHOR COAL N.V. An der Wuhlheide 232 12459 Berlin Germany phone: +49 30 65 66 81 60 fax: +49 30 65 66 81 15 email: info@ichorcaol.com www.ichorcoal.com NewMark Finanzkommunikation GmbH Thomas Luber Zum Laurenburger Hof 76 60594 Frankfurt phone: +49 69 94418069 mobil: +49 171 8311216 email: Thomas.Luber@newmark.de End of Corporate News
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30.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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195451 30.11.2012
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- The investment was financed by successful top-up of EUR 80 million bonds Berlin, 30 November 2012: Ichor Coal N.V., an internationally operating mineral resource company announces the closure of the purchase of 30 per cent of the shares from a capital increase of Mbuyelo Coal (Pty) Ltd., a South African coal mining company. The financing of this transaction was generated by the top-up of EUR 80 million bonds scheme issued by Ichor Coal N.V. in June 2012 (EO-Conv. Bonds 2012/17, WKN A1G4Z1). This investment will give IchorCoal access to nine different coal mines and projects in South Africa. The transaction was initially structured via a convertible bond issued by Mbuyelo Coal and subscribed by IchorCoal. With the finalisation of a corporate restructuring and a positive assessment of different expert opinions with regard to the validation and the evaluation of the coal resources, Ichor Coal converted the bond into equity and initiated a share capital increase. IchorCoal now owns a 30 per cent stake of Mbuyelo Coal. Both main shareholders, Mbuyelo Group and IchorCoal, plan to carry out further exploration and exploitation of the existing coal resources. 'The investment is another cornerstone in the strategic cooperation between IchorCoal and Mbuyelo Group' says Heinz Schernikau, CEO of IchorCoal, 'On top of the one mine already producing we are expecting to bring a further three out of the nine coal mines into production in 2013'. About ICHOR COAL N.V. ICHOR COAL N.V. is an internationally operating mineral resource company specializing in investments in coal resources as well as in other projects in the field of coal logistics and coal handling along with coal trading via its marketing arm HMS Bergbau AG. The company is aiming to secure own coal-resources, to gain control along the value chain and to sell the produced coal on the international markets. In consideration of the global rise in demand for coal, market chances are vast and entrepreneurial action is essential and bears excellent prospects. The company is lead by its CEO Heinz Schernikau and its CFO Sebastian Giese. Both bring in their long time experience in the commodity sector. Forward-looking statements This news release includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning estimates of expected mining and associated costs, statements relating to estimates of, and increases in, production, cash flows and values and other statements which are not historical facts. When used in this document, the words such as 'could,' 'plan,' 'estimate', 'expect', 'intend', 'may', 'potential', 'should' and similar expressions are forward-looking statements. Although ICHOR believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include the potential that the Company's projects will experience technological and mechanical problems, that geological conditions in the reservoir may not result in commercial levels of oil and gas production, that changes in product prices can have a material impact and that ICHOR fails to raise sufficient capital to adequately fund its activities. Contact: ICHOR COAL N.V. An der Wuhlheide 232 12459 Berlin Germany phone: +49 30 65 66 81 60 fax: +49 30 65 66 81 15 email: info@ichorcaol.com www.ichorcoal.com NewMark Finanzkommunikation GmbH Thomas Luber Zum Laurenburger Hof 76 60594 Frankfurt phone: +49 69 94418069 mobil: +49 171 8311216 email: Thomas.Luber@newmark.de End of Corporate News
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30.11.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de
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195451 30.11.2012