ProactiveInvestors: Prophecy Coal announces $9 mln private placement financing

Coal miner Prophecy Coal Corp. reported Thursday it has arranged a non-brokered private placement financing worth $9 million as it seeks to advance development of its thermal coal plant project in Mongolia. The company plans to sell 20 million shares for 45 cents each. Prophesy Coal said insiders and existing shareholders have subscribed for a majority of this offering. Prophecy said finder’s fees may be paid in connection with the financing in accordance with TSX Exchange policies. The offering is slated to close on March 7. To read the full article, click hereProphecy Coal announces $9 mln private placement financing

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