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Coalspur Provides Update on Scheme of Arrangement

by ahnationtalk on May 27, 2015368 Views

27 May 2015

VANCOUVER, British Columbia: Coalspur Mines Limited (“Coalspur” or “Company”) (ASX: CPL, TSX:

CPT) refers to the scheme of arrangement pursuant to which it is proposed that KC Euroholdings S.à r.l. (“KCE”) will acquire all of the ordinary shares in Coalspur (“Scheme”); and its previous announcements in respect of the outstanding conditions precedent, in particular the condition precedent relating to the amendment of Coalspur’s existing contractual arrangements with Ridley Terminals Inc. (“Ridley Terminals”), to the satisfaction of KCE (the “Ridley Condition”).

The Company is pleased to advise that a termination and mutual release agreement (“Termination Agreement”) that cancels the port agreements between Coalspur and Ridley Terminals has been executed between Coalspur, Ridley Terminals and KCE. The Ridley Condition will accordingly now be waived by KCE.

Due to the availability of Coalspur’s counsel, the second court hearing for the Scheme (which is currently scheduled for Wednesday, 3 June 2015 at the Federal Court of Australia), has been adjourned until 10 June 2015.

The updated timetable for the Scheme is as follows:

Event Date
 Second Court Hearing for approval of the Scheme  10 June 2015
Effective Date of the Scheme 11 June 2015
 Last date of trading of Coalspur Shares on ASX and TSX  11 June 2015
Record Date for determining entitlements to the Scheme Consideration 18 June 2015
 Implementation Date for the Scheme and payment of the Scheme Consideration  25 June 2015

Any changes to the above timetable will be announced to ASX and SEDAR. The Company will continue to keep shareholders updated on status of the Scheme as the timetable progresses.

For additional information, please contact:

Ryan Walchuck
Media and Investor Relations
[email protected]
P: +1 604 220 8595

NT3

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