Coalspur Mines Limited (ASX:CPL) Seeks Toronto Stock Exchange Listing
Perth, Aug 18, 2010 AEST (ABN Newswire) - Coalspur Mines Limited (
ASX:CPL) (PINK:CSPZF) ("Coalspur" or "Company") is pleased to announce that it intends to seek a dual listing on the Toronto Stock Exchange ("TSX") in the current quarter.
As the Company's Vista Coal Project is located in Canada, the Directors believe that listing on the TSX is an important natural progression for the Company and increases the Company's profile and accessibility to investors based in North America and other markets in the Northern Hemisphere. A dual listing on the TSX is expected to provide increased liquidity to the Company's current and future shareholders.
Commenting on the intended dual listing on the TSX, Coalspur Managing Director, Mr Gene Wusaty, said "with our Canadian based projects and Canadian executive team we expect the Company to be well supported by the North American investment community."
"This will provide us with increased access to the larger North American and other northern hemisphere capital markets to support the Company's progression through the development of its Vista Coal Project."
The Company has engaged Haywood Securities Inc. ("Haywood") to act as the Company's sponsor for the intended TSX listing.
The Company will maintain its existing listing on the Australian Securities Exchange ("ASX") as its primary listing. After the TSX listing, existing shareholders will be able to trade their shares on the TSX, but before doing so, will need to transfer their shares to the relevant share registry and establish an account with an appropriate stockbroker. The Company's share registrar will be able to provide further details on such procedures to interested shareholders once the listing is completed.
Further information and timing in relation to the proposed TSX listing will be provided in due course.
About Haywood
Haywood is a highly regarded Canadian corporate advisory and broking firm with offices throughout Canada and in London. Haywood specialises in emerging companies within the resource and energy sectors that offer high growth potential and has an extensive network of Canadian, U.S. and European institutional and retail investors.
About Coalspur Mines Limited
Coalspur Mines Limited (ASX:CPL) (TSE:CPT) is a coal development company with approximately 55,000 hectares of coal leases located within the Hinton region of Alberta, Canada. Coalspur's flagship project is Vista, which covers approximately 10,000 hectares and provides a large scale, surface mineable, thermal coal development. Vista is located adjacent to CN Rail's main line, which is suitable for the transport of coal to deepwater ports on Canada's west coast. Coalspur has secured a port allocation agreement with Ridley Terminals Inc., which is essential to the logistics supply chain necessary to export coal from Vista to the growing demand from the Asia Pacific countries.
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