VANCOUVER, June 3 /PRNewswire-FirstCall/ - Western Coal Corp (TSX: WTN, WTN.WT and AIM: WTN) ("Company" or "Western") announces the closing of its 7.5% convertible unsecured subordinated debenture ("Debentures") redemption program (as announced on April 28, 2010). As at May 28, 2010, the closing date for the redemption program, other than $317,435 which was redeemed, the remaining Debentures have been all converted into common shares. As at May 31, 2010, the Company has 336,359,383 common shares issued and outstanding, which includes 72,122,826 owned by Cambrian Mining Ltd, a wholly-owned subsidiary of Western.
Keith Calder, President and Chief Executive Officer of Western Coal Corp. comments, "As we expected most debenture holders converted their holdings into shares and very little cash was used under the redemption program. We have further strengthened our already strong financial position from which to execute our growth program."
About Western Coal
Western Coal is a producer of high quality metallurgical coal from mines in northeast British Columbia (Canada) and high quality metallurgical coal and compliant thermal coal from mines located in West Virginia (USA). Western Coal also owns approximately 55% of Energybuild Group Plc (EBG: AIM) which produces high quality anthracite and metallurgical coal in South Wales (UK). Other interests owned include a 48% interest in Mandalay Resources Corporation (TSX.V: MND), 38% interest in Xtract Energy (XTR: AIM), 20% interest in NEMI Northern Energy & Mining (NNE.A: TSX). The Company is headquartered in Vancouver, BC, Canada, and trades on the AIM and TSX stock exchanges under the symbol "WTN". More information can be found at www.westerncoal.com
SOURCE Western Coal Corp.