Prophecy Coal Closes Second Tranche of Private Placement

 Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) closed the second and final tranche of its private placement. 8,142,857 units were issued for a total of $1,140,000.

As quoted in the press release:

Each Unit consists of one common share and 0.75 of a common share purchase warrant (a “Warrant”), at a purchase price of $0.14 per Unit. Each whole Warrant is exercisable for one common share of Prophecy at a price of $0.18, expiring two years from the date of issue. Each Unit sold in the second tranche closing also included an adjustment warrant entitling the holder to acquire additional common shares of the Company in certain circumstances.

Click here to read the Prophecy Coal Corp. (TSX:PCY,OTCQX:PRPCF,FWB:1P2) press release

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