EastCoal Inc Court Approval for Disposal and Extension (9515X)

TIDMECX

RNS Number : 9515X

EastCoal Inc

17 January 2014

NEWS RELEASE - January 17, 2014

EASTCOAL ANNOUNCES APPROVAL OF COURT APPLICATION

EastCoal Inc. (TSX-V: ECX, AIM: ECX) ("EastCoal" or the "Company") announces that on January 16, 2014 the Supreme Court of British Columbia (the "Court") issued a court order approving the Company's application for the sale of its subsidiaries as announced on January 16, 2014 (the "Disposals"). In addition, the Court issued the Company with a 46 day extension to make a proposal to its creditors under the Bankruptcy and Insolvency Act (Canada) ("BIA"). The extension has the effect of allowing the Company until March 3, 2014 in which to make a proposal to creditors.

The Company has also received conditional approval of the TSX Venture Exchange for the Disposals.

Contacts:

EastCoal Inc.

Abraham Jonker, President +1 (604) 681-8069

Cenkos Securities plc

Alan Stewart/Derrick Lee +44 (0) 131 220 6939

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This information is provided by RNS

The company news service from the London Stock Exchange

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