Prophecy Coal Celebrates TSX Listing by Opening the Market With Special VIP Guests, Including the Mongolian Ambassador to Canada, and Exclusive Reception to Follow
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/27/12 -- Prophecy Coal Corp. ('Prophecy' or the 'Company') (TSX: PCY)(OTCQX: PRPCF)(FRANKFURT: 1P2) is pleased to announce the Company will be holding its official TSX listing ceremony at the TMX Broadcast Centre in Toronto, Ontario on Monday, February 27th beginning at 9:00 am EST. Mr. John Lee, Chairman and CEO of Prophecy, will open the market at 9:30 am EST along with Prophecy personnel, members of the Board and senior representatives from the TMX Group.
Among the confirmed VIP guests attending the ceremony are the Mongolian Ambassador to Canada and the Mongolian Trade Commissioner & Acting Consul. Representing the Canadian Department of Foreign Affairs and International Trade will be Janice Vogtle, Deputy Director and Odette Corbu, Trade Commissioner with the Ontario Regional Office of the Canadian Trade Commissioner Service.
Media are invited to join Prophecy for the listing ceremony and an exclusive reception from 5:00 pm to 7:30 pm in Toronto to celebrate this milestone. For ceremony or reception information, please contact Prophecy Coal Investor Relations.
In November 2011, Prophecy Coal, a Vancouver-based company, received the license from the Mongolian government to construct a 600 MW power plant at the site of its Chandgana Tal thermal coal deposit. The Company expects to conclude a power purchase agreement and project financing in 2012.
About Prophecy Coal
Prophecy Coal Corp. is a Canadian listed company engaged in developing energy projects in Mongolia. The company has over 1.4 billion tonnes(i) of near surface thermal coal resources on two coal properties in Mongolia. Prophecy Coal's Chandgana 600 MW mine mouth power plant has been permitted and its Ulaan Ovoo coal mine is now in production. Prophecy Coal is the controlling shareholder of Prophecy Platinum Corp. (TSX VENTURE: NKL). Mineral resources that are not mineral reserves do not have demonstrated economic viability. Further information on Prophecy Coal can be found at www.prophecycoal.com.
ON BEHALF OF THE BOARD OF DIRECTORS Prophecy Coal Corp.
John Lee, CEO/Chairman
(i) Includes 1.2 billion tonnes at the Chandgana coal project based on NI 43-101 technical reports completed in September, 2007 and September, 2010.
Forward-Looking Statements: This news release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, including, without limitation, statements regarding future plans and objectives of the companies are forward-looking statements that involve various risks and uncertainties. Although Prophecy believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Forward-looking statements are based on a number of material factors and assumptions. Factors that could cause actual results to differ materially from those in forward-looking statements include general economic, regulatory, market or business conditions, and other risks detailed herein and from time to time in the filings made by the companies with securities regulators. Mineral exploration and development of mines is an inherently risky business and large infrastructure projects such as power plants require huge amounts of capital which may not be available to Prophecy on terms which will allow its shareholders to realize a reasonable return or on any terms at all. Accordingly the actual events may differ materially from those projected in the forward-looking statements. For more information on Prophecy and the risks and challenges of its business, investors should review filings that are available at www.sedar.com.
'Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.'
Contacts:
Prophecy Coal Corp.
Chris Ackerman
Manager, Investor Relations
1-800-459-5583
cackerman@prophecycoal.com
www.prophecycoal.com