Cardero & Coalhunter Mining Corporation Sign Definitive Arrangement Agreement

Cardero Resource Corp. (TSX:CDU,NYSE:CDY,FRA:CR5) and Coalhunter Mining Corporation report the companies have an agreement under which the Cardero will acquire all outstanding shares of Coalhunter.

The press release is quoted as saying,

Upon completion of the Transaction, Cardero will have approximately 81,955,749 common shares issued and outstanding and will hold, through Coalhunter, a 75% joint venture interest in the Carbon Creek Metallurgical Coal Deposit, located in northeast British Columbia, Canada and historically estimated to contain 132.8 million short tons (120.47 metric tonnes) of coal.

For the complete press release, click here.