Pacific Coal Resources Ltd. announces updates to purchases under normal course issuer bid
TORONTO, Oct. 20, 2011 /PRNewswire/ - Pacific Coal Resources Ltd. (TSXV: PAK) announced today that it has purchased for cancellation, to date, a total of 4,595,500 common shares in the capital of the Company at an average price of
.5243 under its previously announced normal course issuer bid with the TSXV. Upon cancellation of all of the common shares purchased to date, there will be 328,606,906 issued and outstanding common shares of the Company.
Under the bid, the Company is entitled to purchase for cancellation up to a maximum of 10% of common shares that comprise the Company's Public Float (as such term is defined in the TSXV Corporate Finance Manual) through the facilities of the TSXV until the earlier of July 3, 2012 or the date on which the Company has purchased the maximum number of common shares permitted under the bid.