COLONIAL COAL INTERNATIONAL CORP. ("CAD")
BULLETIN TYPE: Property-Asset or Share Acquisition Agreement
BULLETIN DATE: March 26, 2015
TSX Venture Tier 1 Company
TSX Venture Exchange Inc. (the "Exchange"') has accepted for filing an arrangement agreement (the "Arrangement Agreement") dated January 27, 2015 between Colonial Coal International Corp. ("Colonial") and Tuya Energy Inc. ("Tuya") whereby Colonial will, by way of an amalgamation between Tuya and a wholly-owned subsidiary of Colonial, acquire all of the issued and outstanding common shares of Tuya ("Tuya Shares") pursuant to a court approved plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction").
Under the terms of the Transaction, each Tuya shareholder received 0.5 of a common share of Colonial ("Colonial Share") for each Tuya Share held resulting in the issuance of 31,716,500 Colonial Shares to acquire all of the outstanding Tuya Shares.
Tuya is a privately held, Vancouver-based, Coal Exploration and Development company. Tuya's principal property is the Tuya River Property, a thermal coal property, located between Telegraph Creek and Dease Lake in northwestern British Columbia.
The Exchange has been advised that the Transaction was approved by the disinterested shareholders of Colonial at a meeting held on March 19, 2015.
Insider / Pro Group Participation: The board of directors and management of Colonial and Tuya are the same and each of David Austin (President, director and Chief Executive Officer of Colonial), Anthony Hammond (director of Colonial), John Perry (Chief Operating Officer and director of Colonial) and William Filtness (Chief Financial Officer and Corporate Secretary of Colonial) hold Tuya Shares.
For further information please refer to Colonial's news release dated January 28, 2015 and Information Circular dated February 17, 2015 which are available under Colonial's profile on SEDAR.
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