Puda Coal Announces Signing Agreements to Acquire Three Coal Mines Under Jianhe Project

Puda Coal, Inc. (AMEX:PUDA) announced that its 90% subsidiary has entered into agreements to acquire three coal mines.

The press release is quoted as saying:

Under each agreement, Shanxi Coal agreed to pay 90% of the purchase price within five days of signing and the remaining 10% of the purchase price three months after the signing if Shanxi Coal confirms there is no claim against respective seller with respect to the transferred assets.

To read the full press release, click here.