BRISBANE, AUSTRALIA--(Marketwire - October 29, 2008) - Waratah Coal
(TSX VENTURE: WCI) ("Waratah" or the "Company") advises that a
further Supplementary Information Memorandum dated October 29, 2008
has been lodged as part of its Listing Application to the Australian
Stock Exchange Limited ("ASX") and can be viewed on the Company's
website www.waratahcoal.com or on www.sedar.com.
The additional disclosure is in relation to the extension and
amendment of Mineralogy Pty Ltd's unsolicited offer.
The amended offer will be open for acceptance until 5:00 p.m.
(Toronto time) on December 3, 2008. Mineralogy has also indicated
that it is amending its offer to be for all of Waratah's outstanding
common shares, other than shares held by Mineralogy and any of its
affiliates. Mineralogy has not increased its offer price of $1.41 per
share.
Waratah also advises that the Board of Directors and the Special
Committee of Waratah, with the assistance of financial and legal
advisors, continues to aggressively pursue more attractive value
alternatives for shareholders.
Waratah shareholders who have questions about Mineralogy's offer (or
who have already tendered to Mineralogy's offer and wish to withdraw
their shares) are encouraged to contact Waratah's information agent,
Laurel Hill Advisory Group, at 1-866-588-7127 (toll free in North
America) or at 1-416-637-4661 (collect outside North America).
About Waratah
Waratah's strategy is to build shareholder value, through
acquisition, exploration and development of coal projects in
Australasia. This strategy is being developed by a synthesis of
Waratah's core skills in project evaluation, structured acquisition,
exploration and project development and operations, an area where
Waratah executives have significant experience.
Waratah recently announced that ongoing drilling on its' Galilee
Basin Project, Queensland, Australia, had increased the total
Inferred Resource to 4.355 Billion tonnes. Recent drilling has also
confirmed the presence of premium quality coking coal at the Nymboida
Project, in New South Wales, Australia.
Waratah has recently had its listing classification on the TSX
Venture Exchange (the "Exchange") upgraded from Tier 2 to Tier 1.
Tier 1 is the Exchange's premier tier and is reserved for the
Exchange's most advanced issuers with the most significant financial
resources. Tier 1 issuers benefit from decreased filing requirements
and improved service standards.
On June 2, 2008 Waratah announced its intention to apply for dual
listing on the ASX, and on October 2, 2008 announced that it had
formally made its application to the ASX for the admission to the
Official List of the ASX and for Official Quotation of CDI's for the
shares issued in Waratah. Upon admission to the ASX, Waratah will
become dual listed with its securities listed on both TSX-V and ASX.
Waratah is not seeking to raise any additional funds as part of the
ASX listing process.
The ASX is host to a number of coal exploration and mining companies
and the Waratah Board consider that listing the Company's securities
in a market very familiar with coal development strategies will be of
significant benefit to the Company and its shareholders. The addition
of Waratah to the ASX would represent the listing of a significant
new coal exploration and development company in Australia.
The Board is of the view that a dual listing on the ASX will broaden
the shareholder base and will also add to the Company's options for
attracting corporate and project funding. The Board also considered
the significant demand from Australian retail and institutional
investors to dual list Waratah on the ASX, as several of these
parties are prevented from investing in securities listed on overseas
stock exchanges.
This press release does not constitute an offer to sell or a
solicitation to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended ("the U.S. Securities Act")
or any state securities law and may not be offered or sold in the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Cautionary language:
Except for the historical and present factual information contained
herein, the matters set forth in this news release, including words
such as "expects", "projects", "plans", "anticipates" and similar
expressions, are forward-looking information that represents
management of Waratah Coal's internal projections, expectations or
beliefs concerning, among other things, future operating results and
various components thereof or the economic performance of Waratah
Coal. The projections, estimates and beliefs contained in such
forward-looking statements necessarily involve known and unknown
risks and uncertainties, which may cause Waratah Coal's actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements. These risks
and uncertainties include, among other things, those described in
Waratah Coal's filings with the Canadian securities authorities.
Accordingly, holders of Waratah Coal shares and potential investors
are cautioned that events or circumstances could cause results to
differ materially from those predicted. Waratah Coal disclaims any
responsibility to update these forward-looking statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Contacts:
Waratah Coal Inc.
Peter Lynch
President and CEO
+61 7 3303 0692
Email: plynch@waratahcoal.com
Waratah Coal Inc.
Michael Joyner
Investor Relations - Canada
(416) 368-3671
Email: mjoyner@waratahcoal.com
Website: www.waratahcoal.com
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright © Hugin AS 2008. All rights reserved.
