Coalspur Mines Limited Completes C$44.4 Million Public Offering

08:57 AEST May 4, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.

Perth, Australia (ABN Newswire) - Coalspur Mines Limited ('Coalspur' or 'Company') (ASX: CPL) (TSE: CPT) (PINK: CSPZF) is pleased to announce that it has successfully completed its public offering of 24,000,000 ordinary shares (the 'Ordinary Shares') of the Company at an issue price of C$1.85 per Ordinary Share for gross proceeds to the Company of C$44.4 million ('Public Offering'). This was announced to the market on April 13, 2011.

The Public Offering was managed by a syndicate of agents led by Haywood Securities Inc., BMO Capital Markets and RBC Capital Markets and including Salman Partners Inc.

In addition to the Public Offering, the previously announced private placement of 6,000,000 ordinary shares at C$1.85 each to raise a further C$11.1 million, before costs ('Private Placement'), is expected to be completed in June 2011. The Private Placement is being made to the Highland Park Group, a strategic shareholder of the Company.

Commenting on the completion of the Public Offering, Mr Gene Wusaty, Managing Director and CEO said, 'We have an exciting few months ahead of us now with impending results from a number of recent activities and the rapid progression of the Bankable Feasibility Study.'

'We will also be bringing forward a number of key activities that have the potential to enhance the production profile and value of the Vista Coal Project whilst we continue to grow the Company's profile in the North American investment community.'

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States absent registration or in accordance with an applicable exemption from the registration requirements.


About Coalspur Mines Limited:

Coalspur Mines Limited is a coal exploration and development company with over 32,000 hectares of coal exploration leases located within the Hinton region of Alberta, Canada. Coalspur's flagship coal project is the Vista Coal Project which has the potential to be one of the largest export thermal coal mines in North America.

Coalspur has offices in Calgary and Hinton in Canada as well as in Australia. The Company's goal is to develop a major new thermal export coal region in Alberta to meet growing energy demands worldwide and in particular of the insatiable Asia Pacific market. The Company is dual listed on the Toronto Stock Exchange under the symbol 'CPT' and on the Australian Securities Exchange under the symbol 'CPL'.



Contact:

Gene Wusaty
Managing Director and CEO
Telephone: +1-403-975-7901