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CanAm Coal Corp

Publié le 12 septembre 2008

Announces Completion of Final Tranche of Financing

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Radar Acquisitions Corp. Announces Completion of Final Tranche of Financing

 

Calgary, AB -- September 12, 2008 -- Radar Acquisitions Corp. ("Radar") (TSXV: RAC), is pleased to announce that Radar has completed the second and final tranche of a non-brokered private placement of 96,000 units at a price of C$0.22 per unit for gross proceeds of C$21,120. Combined with the first tranche, which closed on August 22, 2008, the total gross proceeds raised from both tranches of the private placement is $1,068,870 from the issuance of 4,858,500 units. Each unit consists of one common share and one half of a common share purchase warrant. Each whole warrant is exercisable at C$0.33 per common share for a period of one year from closing. The private placement was increased from the amount disclosed in Radar's  press release dated July 29, 2008 from 3,204,545 units to 4,858,500 units or an increase of total gross proceeds form $704,999 to $1,068,870.

Total finder's fees of $1,689.60 and 7,680 finder's options were issued in relation to the second tranche of the private placement, with each finder's option being exercisable into a common share at a price of $0.22 per common share for a period of one year from the date of issuance of the option.

Proceeds of the private placement will be used for advancing projects for the Radar/New Energy USA, LLC, joint venture; continued lease maintenance and for general operating purposes. The final tranche of the private placement is subject to final TSX Venture approval. The securities issued pursuant to the private placement are subject to a four month hold (until January 11, 2009).

Timothy Bergen CEO says, "Under the current market conditions we are very pleased that we were able to oversell our original finance target by more than 30 percent as not only a result of continued support from our current shareholder base, but also the addition of new investors. Clearly our shareholders believe in Radar's business plan and the potential for significant growth as we pursue financial feasibility on a number of Re-Fuel project sites and work towards our goal of putting our first Re-Fuel plant into production by the end of this fiscal year."


About Radar Acquisitions Corp.

Radar is a diversified natural resource development company focused on growth through the acquisition, exploration and development of resources and resource related technologies. Radar is focused on a joint venture agreement it has with New Energy USA, LLC, to develop engineered solid fuel products (Re-Fuel�) using a combination of coal waste and biomass.

Re-Fuel� will benefit the environment through the reclamation of coal waste and other bio-refuse in the production phase and cleaner stack and ash emissions in the power generation phase. Production of Re-Fuel can qualify the producing joint venture company for a variety of tax credits while providing coal waste owners/suppliers with a significant benefit by decreasing site reclamation costs. Users of Re-Fuel� will benefit from a competitively priced, cleaner and more efficient product that may also be eligible for substantial carbon credits.

Corporate Head Office: 
Timothy J. Bergen, President
Tel: 403.262.3797
Toll Free: 1.877.262.5888
Email: tbergen@radar.ab.ca

Investor Relations:
Bryson Goodwin, Ascenta Capital Partners Inc.
Tel: 604.684.4743 ext. 239
Toll Free: 1.866.684.4209
Email: bryson@ascentacapital.com

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Radar's current beliefs and is based on information currently available to Radar and on assumptions Radar believes are reasonable. These assumptions include, but are not limited to, the quality and amount of waste coal being used to supply the Re-Fuel� technology being consistent with sample testing results, the amount of waste coal being consistent with historical estimates and the ability of RPS to build Re-Fuel� production facilities within timelines and costs budgeted by RPS.  Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Radar, its subsidiaries or RPS to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the early stage development of Radar, RPS, Re-Fuel� and the Re-Fuel� technology; general business, economic, competitive, political and social uncertainties; uncertainties as to market acceptability of Re-Fuel� and the Re-Fuel� technology; the actual results of current research and development or operational activities; competition; uncertainty as to patent applications and intellectual property rights; product liability and lack of insurance; delay or failure to receive board or regulatory approvals; changes in legislation, including environmental legislation, affecting mining, Re-Fuel� and the Re-Fuel� technology; timing and availability of external financing on acceptable terms; not realizing on the potential benefits of Re-Fuel� and the Re-Fuel� technology; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Radar has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Radar does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 

 

 


 

Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada

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Ascenta Capital provides investor relations services to a number of junior public companies. To learn about these companies, there are a number of e-news lists you can to in our Profile Centre. You can also subscribe to our monthly e-newsletter, Resource Investor Monthly.

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CanAm Coal Corp

CODE : COE.V
ISIN : CA1370981096
CUSIP : 137098109
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CanAm Coal est une société d’exploration minière de charbon basée au Canada.

CanAm Coal détient divers projets d'exploration en USA.

Ses principaux projets en exploration sont TITANIUM RIDGE et STRONG CREEK en USA.

CanAm Coal est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,5 millions CA$ (1,2 millions US$, 1,1 millions €).

La valeur de son action a atteint son plus haut niveau récent le 13 juillet 2007 à 0,49 CA$, et son plus bas niveau récent le 12 août 2015 à 0,01 CA$.

CanAm Coal possède 304 329 984 actions en circulation.

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Financements de CanAm Coal Corp
29/10/2009Completion of $500,000 Private Placement
Communiqués de Presse de CanAm Coal Corp
22/12/2014CanAm Closes Non-Brokered Private Placement of Common Shares...
15/12/2014CanAm Closes Transaction to Acquire a Western Canadian Frac ...
12/12/2014CanAm Appoints Chief Financial Officer
02/12/2014CanAm Reports Q3 2014 Coal Sales and Revenue of 170,000 Tons...
17/11/2014CanAm Obtains Gooden Creek #2 Mine Permit
29/10/2014CanAm Signs Binding Letter of Intent to Acquire a Western Ca...
24/10/2014CanAm Considers a Diversification Strategy
02/09/2014CanAm Reports Q2 2014 Coal Sales and Revenue of 186,000 tons...
06/08/2014CanAm Announces Corporate Restructuring
04/08/2014CanAm Coal Completes Debt to Equity Conversion of $7.6 milli...
28/07/2014CanAm Holds AGM, Shareholders Approve Debt to Equity Convers...
17/07/2014CanAm Announces Customer Contracts for 2015 and Beyond
14/07/2014CanAm Reports Q2 2014 Sales of 185,000 tons, up 10% over 201...
11/07/2014CanAm to Hold Annual General and Special Shareholders Meetin...
30/06/2014CanAm Corporate Update
23/06/2014CanAm Announces Extension of Warrants
30/05/2014CanAm Reports Q1 2014 Coal Sales Revenue of 168,000 tons and...
26/05/2014IIROC Trading Resumption - COE
23/05/2014IIROC Trading Halt - COE
19/05/2014CanAm Enters Binding Agreements to Convert into Equity Outst...
09/05/2014Update on Proposed $14 million Brokered Private Placement Fi...
01/05/2014CanAm Coal Announces Proposed $14 million Brokered Private P...
27/09/2013CanAm Coal
19/06/2013News Release
02/11/2012CanAm Coal
22/10/2012News Release
20/04/2012News Release
06/03/2012News Release
02/03/2012News Release
30/12/2011News Release
30/12/2011CanAm Coal Press Release w/ Attachment
07/12/2011News Release
13/04/2011News Release
09/02/2011CanAm Coal
03/12/2009Reverse Take-Over and Concurrent Financing
27/11/2009Closes Transaction to Create US Coal Mining Company
12/09/2008Announces Completion of Final Tranche of Financing
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