CDR Condor Energies Inc

GC-Global Capital Corp. ("Global Capital") (TSX VENTURE:GDE.A) is pleased to
announce that its client company, CDR Minerals Inc. ("CDR") and Royal Coal Corp.
("Royal Coal")(TSX VENTURE:RDA) announced the completion of the amalgamation
(the "Business Combination") of CDR with Royal Coal's wholly-owned subsidiary to
continue as one company under the Business Corporations Act (Ontario) (the
"OBCA"). In connection with the completion of the Business Combination, Amalfi
Capital Corporation ("Amalfi") (TSX VENTURE:ALI.P) continued under the OBCA,
changed its name to "Royal Coal Corp." and consolidated its previously
outstanding common shares on the basis of two common shares of Amalfi ("Amalfi
Shares") for one common share of Royal Coal (the "Consolidation").


Concurrent with the closing of the Business Combination on August 12, 2010, CDR
completed its previously announced private placement of $4,685,000 in gross
proceeds, representing an aggregate of 23,425,000 units (the "CDR Units") at a
price of $0.20 per Unit (the "Private Placement"). Each CDR Unit is comprised of
one common share of CDR (the "CDR Shares") and one common share purchase warrant
("Warrant"). Each whole Warrant will entitle the holder to purchase one common
share of CDR at a price of $0.20 for a period of five years from the closing of
the Private Placement. Pursuant to the terms of the Private Placement, the
agents, along with other placement agents, were paid an aggregate of $226,000 in
cash commissions and were issued an aggregate of 1,030,300 broker warrants, each
exercisable to purchase one CDR Share at $0.20 for a period of 60 months from
the closing of the Private Placement. 


Royal Coal Corp. is an exploration and production company, headquartered in
Toronto, Ontario, Canada with a regional office in Hazard, Kentucky, U.S.A.
Royal Coal is concentrating its efforts on developing producing surface coal
mining operations in the Central Appalachian coal producing region of the United
States, which includes parts of West Virginia, Virginia, Kentucky, Ohio, and
Tennessee. Mining at Royal Coal's Big Branch (Cheyenne) surface mine has been
continuous since the acquisition of the mine on October 1, 2009. Royal Coal has
averaged coal production of 30,553 tons per month over the past 8 months and the
proceeds of the CDR Private Placement will be used to increase production to a
targeted 65,000 tons per month beginning October 2010. Central Appalachia's
history of producing large volumes of thermal and metallurgical coal, along with
the under-utilized coal infrastructure already in place make the area ideal for
the implementation of Royal Coal's business model. Coal assets in the area can
be acquired and brought into production relatively quickly.


GC-Global Capital Corp.'s convertible debenture with CDR in the amount of
$375,000 was amended such that $25,000 was paid on closing of the Private
Placement and the balance of the principal will be repaid over the period ending
December 31, 2011. The conversion price is equal to a 25% discount to CDR's
private placement and is convertible into one (1) common share of the public
company. 


About GC-Global Capital Corp.

Global Capital is a merchant bank which provides bridge loan services (asset
back/collateralized financing), to companies across many industries such as oil
& gas, mining, real estate, manufacturing, retail, financial services,
technology and biotechnology.


Royal Coal Corp. 

Royal Coal Corp. is an exploration and production company, incorporated pursuant
to the Business Corporations Act (Ontario), headquartered in Toronto, Ontario,
Canada with a regional office in Hazard, Kentucky, U.S.A. Royal Coal is
concentrating its efforts on developing producing surface coal mining operations
in the Central Appalachian coal producing region of the United States, which
includes parts of West Virginia, Virginia, Kentucky, Ohio, and Tennessee.

Condor Energies (TSX:CDR)
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부터 5월(5) 2024 으로 6월(6) 2024

Condor Energies (TSX:CDR)
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부터 6월(6) 2023 으로 6월(6) 2024