Forbes & Manhattan Coal Corp. Announces Closing in Full of Over-Allotment Option

Forbes & Manhattan Coal Corp. (TSX:FMC) announced that the underwriters of its bought deal offering have exercised their option to buy 1,200,000 common shares of the company.

The press release is quoted as saying:

The Company intends to use the net proceeds from the Offering for the repayment of its outstanding vendor note from the acquisition of the Company’s assets, for expansion capital expenditures at the Company’s Magdalena and Aviemore coal mines in South Africa and for general corporate purposes.

To read the full press release, click here.