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Trowers & Hamlins advises EastCoal Inc. on its £9.5 million admission to AIM

Trowers & Hamlins advises EastCoal Inc. on its £9.5 million admission to AIM

Trowers & Hamlins, the City and international law firm, has advised EastCoal Inc. (the Company) on its £9.5 million placing and admission to AIM. The approximate market capitalisation of the Company immediately following admission is anticipated to be £39.7 million, based on a price of 12.21 pence per share at which the fundraising was conducted.

The Company, which is also listed on the TSX-V in Canada, is a mineral exploration and development company engaged in the development of significant coal mining interests in Ukraine.

The funds raised through the placing will be used to fund capital expenditure, repay certain outstanding debentures and for general working capital purposes.

Richard Hildebrand, client partner comments: "We are delighted to act for EastCoal Inc. on its admission to AIM and we wish the Company further future success. We enjoyed the challenge of admitting a company to AIM that is incorporated in Canada and already listed on the TSX-V with its assets in Ukraine."

Corporate partner, Richard Hildebrand led the team, assisted by corporate partner Charles Wilson and Yasha Gosrani.