Colonial Coal International Corp. Announces Closing of Non-Brokered Private Placement
This news release is intended for distribution in Canada only and is not intended for
distribution to United States newswire services or dissemination in the United States.
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COLONIAL COAL INTERNATIONAL CORP.
Suite 200 -595 Howe Street, Vancouver, British Columbia, Canada, V6C 2T5
Telephone: (604) 568-4962
NEWS RELEASE
COLONIAL COAL INTERNATIONAL CORP. ANNOUNCES
CLOSING OF NON-BROKERED PRIVATE PLACEMENT
Vancouver, B.C., Canada – Febr uary 6, 2017 – Colonial Coal International Corp. (TSX-V:
CAD) (the “Corporation” or “Colonial Coal”) is pleased to announce th e initial closing of its
previously announced (January 17, 2017) non-brokered private placement (the “ Private
Placement”) pursuant to which the Corporation has now issued an aggregate of 48,335,998 units
of the Corporation (each, a “Unit”), at a subscription price of $0.15 per Unit. The balance of the
Private Placement is expected to complete t oday for an additional 3,616,663 Units, resulting in
aggregate gross proceeds to the Corporation of $7,792,900 in the Private Placement.
Each Unit is comprised of one co mmon share in the capital of th e Corporation and one-half of a
transferable common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant
now entitles the holder thereof to purchase one additional common share of the Corporation at an
exercise price of $0.30 per common share for a period of three years from the date of issue.
In connection with the completion of the Privat e Placement, the Corporation will pay advisory
and finder’s fees of an aggregate of $543,770, equal to approximately 7% of the gross proceeds
of the Private Placement, and an aggreg ate of 3,625,136 Unit purchase warrants (each, a
“Finder’s Warrant”), equal to approximately 7% of the Units issued in the Private Placement.
Each Finder’s Warrant entitles the holder thereof to purchase one Unit at an exercise price of
$0.15 per Unit for a period of three years from the date of issue.
The Corporation intends to use the net procee ds of the Private Pl acement to fund its 2017
exploration programs on each of its Flatbed and Huguenot coal projects and for general corporate
and working capital purposes.
The securities issued in connection with the Pr ivate Placement are subject to a statutory hold
period of four months plus one day from the date of issuance in accordance with the policies of
the TSX Venture Exchange and applicable Canadi an securities legislat ion. In addition, the
securities referred to in this news release ha ve not been registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold
in the United States absent registration or an applicable exemption from registration
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requirements. The common shares and Warrants to be issued by the Corporation will be
“restricted securities” as defined under Rule 144(a)(3) of the U.S. Securities Act.
This news release shall not constitute an offer to sell or the solicitation or an offer to buy nor
shall there be any sale of the securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Colonial Coal International Corp.
Colonial Coal is a publicly traded coal corporati on in British Columbia that focuses primarily on
coking coal projects. The nor theast Coal Block of British Columbia, within which our
Corporation’s projects are located, hosts a number of proven deposits and has been the subject of
M&A activities by Xstrata, Walter Energy, Anglo-American and others.
Additional information can be f ound on the Corporation’s website www.ccoal.ca or by viewing
the Corporation’s filings at www.sedar.com.
Forward-Looking Information
Information set forth in this news release involves forward-looking statements, including
statements relating to the closing of the Private Placement and use of proceeds. Forward-looking
statements are statements that relate to future, not past, events. In this context, forward-looking
statements often address a Corporation’s expect ed future business and financial performance,
and often contain words such as “anticipate”, “believe”, “pla n”, “estimate”, “expect”, and
“intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be
taken or occur, or other similar expressions. By their nature, forward-looking statements involve
known and unknown risks, uncertainties and other f actors which may cause our actual results,
performance or achievements, or other future even ts, to be materially different from any future
results, performance or achievements expressed or implied by such forward-looking statements.
Such factors include, among others, the following ri sks: risks associated with marketing and sale
of securities; the need for additional financing; reliance on key personnel; the potential for
conflicts of interest among certain officers or directors with certain other projects; and the
volatility of common share price and volume. Forward-looking statements are made based on
management’s beliefs, estimates and opinions on the date that statements are made and except as
required by law, the Corporation undertakes no ob ligation to update forward-looking statements
if these beliefs, estimates and opinions or ot her circumstances should change. Investors are
cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CO NTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF TH E CORPORATION AS OF THE DATE OF
THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-
LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS
OF ANY OTHER DATE. WHILE THE CORP ORATION MAY ELECT TO, IT DOES NOT
UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT
AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
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Neither the TSX Venture Exchange nor its Regu lation Services Provider (as that term is
defined in the policies of the TSX Venture Exch ange) accepts responsibility for the adequacy
or accuracy of this news release.
For further information please contact:
Colonial Coal International Corp.
David Austin, President and CEO
604.568.4962
www.ccoal.ca
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