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Atrum Coal NL Completes Acquisition Of Coal License Package


Sunday, 30 Dec 2012 06:04pm EST 

Atrum Coal NL announced that it has completed the 100% acquisition of a substantial coal license package (Panstone Applications). The Panstone Applications are immediately adjacent to the Company's flagship Groundhog Anthracite Project (Groundhog) located in British Columbia, Canada. Completion of the acquisition was made via a cash payment of CAD 400,000 and the issue of 750,000 fully paid ordinary shares in the Company. The acquisition includes six coal license applications covering a total of 8,343 hectares and associated historical exploration data. The Company now boasts a substantial consolidated footprint totaling 22,815 hectares in the Groundhog Coalfield.