Colonial Coal Presents Offer To Purchase Former Skeena Cellulose Mill Properties

Colonial Coal International Corp. (TSXV:CAD) and the Watson Island Development Corporation reported that it has presented an offer to the cities of Prince Rupert and Port Edward to purchase the former Skeena cellulose pulp mill properties.

Perry Braun, CEO and President of WatCo, commented:

We are offering $5 million to Prince Rupert and $500,000 to Port Edward for land and assets in those communities. Our plans are to develop a seaport terminal and industrial park on Watson Island near Prince Rupert.

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