VANCOUVER, BC / ACCESSWIRE / August 11, 2017 / EastCoal Inc. (TSX NEX: ECX) (the "Company") is pleased to announce that, having obtained the necessary approval from the TSX NEX, a consolidation of the Company's common shares (the "Common Shares") is being completed on a twenty (20) to one (1) basis, such that one (1) new Common Share would be issued for every twenty (20) Common Shares outstanding. The Common Shares will begin trading on a consolidated basis on the TSX NEX Exchange on Tuesday, August 15, 2017.
The Company believes that the completion of a share consolidation would better facilitate future financings by the Company, as these would likely be accomplished through the issuance of additional Common Shares. The Company has approximately 156 million Common Shares outstanding prior to the share consolidation. After the completion of the share consolidation on a twenty (20) to one (1) basis, the Company will have approximately 7.8 million Common Shares outstanding.
EastCoal continues to actively seek new investment opportunities.
Neither TSX NEX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX NEX Exchange) accepts responsibility for the adequacy or accuracy of this release.
CONTACT DETAILS
Damien Forer Tel: 1 (604) 973-0079
Chief Financial Officer
SOURCE: EastCoal Inc.