Prophecy Coal to Extend Warrants by Three Years

Prophecy Coal Corp. (TSX:PCY) announced that it hopes to extend the expiry dates of its 2012 warrants by three years. The Company also wants to reprice the warrants to $0.18. Both changes are subject to the approval of the Toronto Stock Exchange.

As quoted in the press release:

The 2012 Warrants were issued as part of a private placement completed by the Company on October 28, 2010, pursuant to which the Company issued 3,831,511 units at a subscription price of $0.53 per unit. Each unit consisted of one flow through common share and one common share purchase warrant (each a “2012 Warrant”), with each 2012 Warrant common entitling the holder to purchase, subject to adjustment, one common share at a price of $0.66 until the Current Expiry Date.

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