EastCoal Receives TSX-V Approval for Conversion of Aponet Debenture; Shares Down 14%
EastCoal Inc. (ECX.V) has received TSX Venture Exchange approval for the conversion of the US$4 million Aponet Enterprises Limited debenture into 17,391,305 common shares of EastCoal Inc. effective 12 March 2013. The new common shares, which rank equally with the existing common shares in the company, are expected be admitted to trading on AIM and the TSX-V on March 18, 2013.
Following admission of the new common shares, the company will have 343,048,493 common shares in issue, which will represent the total number of voting rights in the company.
ECX shares were off a penny at $0.06 on volume of 5.36 million.
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