Pacific Coal Resources Ltd. Announces Share Consolidation and Filing of Notice-and-Access

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Mar 25, 2013, 06:31 ET

TORONTO, March 25, 2013 /PRNewswire/ - Pacific Coal Resources Ltd. (TSXV: PAK) is pleased to announce the consolidation of its issued and outstanding common shares on a one-for-seven basis as authorized by its shareholders at the Company's special meeting of shareholders held on March 11, 2013. The consolidation is being effected to reduce volatility in the stock and to make it more attractive to institutional investors.

The Company will also be consolidating its issued and outstanding warrants on a one-for-seven basis, with the result that each consolidated warrant will now entitle the holder to acquire one common share in the capital of the Company at an exercise price equal to seven times its original exercise price, or $14.70. The warrants of the Company were delisted from the TSX Venture Exchange effective as of close of market on March 19, 2013.

Commencing at opening of trading on Monday, March 25, 2013, the common shares in the capital of the Company began trading on a post-consolidation basis on the TSX Venture Exchange.

The following table summarizes the Company's capital structure following the consolidation of its common shares and warrants (all dollar amounts expressed in Canadian dollars):

Table 1 - Pacific Coal Resources Ltd. capital structure (post-consolidation)

Common Shares	46,018,108 (TSX-V: PAK)
Stock Options	3,130,714 stock options vested and exercisable at $9.45 per share expiring on March 10, 2016 28,571 stock options vested and exercisable at $9.45 per share expiring on May 11, 2016 45,714 stock options vested and exercisable at $4.69 per share expiring on October 24, 2016 575,000 stock options vested and exercisable at $0.77 per share expiring on October 30, 2017 71,429 stock options vested and exercisable at $1.75 per share expiring on January 22, 2018
Warrants	42,857 unlisted common share purchase warrants. Each warrant entitles the holder to purchase one common share at $2.31 per warrant until July 12, 2015. 10,678,568 listed common share purchase warrants (TSX-V: PAK.WT). Each warrant entitles the holder to purchase one common share at $14.70 per warrant until March 14, 2016.

No fractional shares or warrants will be issued if, as a result of the consolidation, a registered shareholder would otherwise become entitled to a fractional common share or warrant by virtue of holding common shares or warrants that are not in a multiple of seven. Any fractional shares resulting from the consolidation will be converted by the Company into whole shares on the basis that each fractional share that is less than half of a share will be cancelled and each fractional share that is at least half of a share or warrant will be changed to one whole common share. All entitlements to fractional consolidated warrants will be rounded down to the next whole number of consolidated warrants.

Notice and Access

The Company will be taking advantage of the new Notice-and-Access rules to further its cost cutting efforts by reducing printing and mailing costs. Notice-and-Access permits annual financial statements, management's discussion and analysis and meeting circulars to be posted on public companies' websites instead of being mailed to shareholders.

In accordance with the rules, the Company has filed a first time notice of use of Notice-and-Access, which is available on the Company's profile at www.sedar.com. The Company will post on its website the meeting circular, annual financial statements and management's discussion and analysis in respect of its upcoming annual general meeting to be held on May 30, 2013.

About Pacific Coal Resources Ltd.

Pacific Coal Resources Ltd. is a Canadian-based mining company engaged in the acquisition, exploration and production of coal and coal-related assets from properties located in Colombia. The Company's common shares and warrants are listed on the TSX Venture Exchange and trade under the symbol "PAK" and "PAK.WT" respectively.

Forward Looking Information:

This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Pacific Coal to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Pacific Coal disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Pacific Coal Resources Ltd.