Coalcorp Mining Completes $138 Million Unit Offering

On June 5, 2008, Coalcorp Mining Inc. completed a public offering of 66,700,000 units for $1.80 per unit (each unit comprised one common share and one warrant). Along with the exercise of the over-allotment option of 10,000,000 units on June 27, 2008, Coalcorp raised a total of $138,060,000. The net proceeds of the offering will principally be used to implement Coalcorp's plan to increase production to 6.0 million tonnes per year by the end of 2010 by developing Block C at its La Francia I property, make final capital contributions to the Fenoco rail line, further fund construction of the Fenoco rail spur connecting the Fenoco rail line to Coalcorp's La Francia property, fund equipment acquisitions and related infrastructure costs, fund the increase in infrastructure and facilities required to support Coalcorp's expansion plan and fund pre-stripping operating costs. Coalcorp is a coal mining, exploration and development company with interests in the La Francia and La Caypa coal mines and related infrastructure projects and a number of coal exploration properties, all located in Colombia.

The units were sold through a syndicate of underwriters led by GMP Securities L.P. and included Canaccord Capital Corporation, Loewen, Ondaatje, McCutcheon Limited and Macquarie Capital Markets Canada Ltd.

Coalcorp was represented in Canada by its in-house legal team of Peter Volk, general counsel, and Anthony Zaidi, associate general counsel, and by the Toronto office of Wildeboer Dellelce LLP with a team led by Robert Wortzman, and that included Perry Dellelce, James Brown, Sanjeev Patel (corporate/securities) and Kevin Fritz (tax).

The syndicate of underwriters was represented by Borden Ladner Gervais LLP with a team led by Alfred Page (corporate/securities) and that included Paul Mingay, Gordon Raman, Shannon Rattray, Shaunik Katyal, Habeeb Syed, Maria Virginia Anzola (corporate/securities), Stephen Fyfe and Daniel Lang (tax).


Paul A.D. Mingay Daniel Lang Perry N. Dellelce Kevin F. Fritz Gordon G. Raman Sanjeev Patel Stephen J. Fyfe James Brown Robert D. Wortzman Alfred L.J. Page Peter J. Volk Shaunik Katyal