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Colonial Coal raise $2.4 million at a 100% premium

Colonial Coal {TSX.V: CAD} announced a financing to a major new investor at 10c per share (plus a half  warrant at 20c for two years), representing 19.86% of issued stock.

This is a huge vote of confidence in the assets and management team at Colonial. Drilling the highly prospective Flatbed property is now a priority, and positions Colonial amongst the very few exploration and development companies able to spend on exploration in these tough times. Continue reading