MicroCoal(r) Technologies Announces Amendment of Warrantsadmin
MicroCoal(r) Technologies Announces Amendment of Warrants
Vancouver, British Columbia CANADA, February 04, 2014 /FSC/ – MicroCoal Technologies Inc. (MTI – CSE, CFQSF – OTC_Pink, OFS.F – Frankfurt), (the “Company” or “MTI”) announces that the Company has extended the expiry date of 6,395,766 outstanding share purchase warrants from February 13, 2014 to May 13, 2014 and 297,909 agent’s warrants from February 13, 2014 to May 13, 2014, which warrants were issued as part of a private placement of units at a price of $0.30 per unit, issued on February 13, 2012. Each share purchase warrant entitles the holder thereof to purchase one additional common share at an exercise price of $0.45 per share, which exercise price has now been amended to $0.28 per share, being the average closing price of the Company’s shares for the 20 most recent trading days.
None of the above warrants have been exercised to date and the above amendments to the warrants are conditional upon the CSE not objecting such amendments.
About MicroCoal(tm) Technologies Inc.
The Company is focused on commercializing its unique, clean-coal upgrading technology known as MicroCoal(r); a low-cost, patented microwave technology that reduces moisture in coal resulting in an upgraded energy content of coal. This process provides significant financial benefits to coal-fired electrical generating utilities such as: large cost savings from switching to low-rank coal, substantial increases in boiler efficiencies and heat output, improved ash efficiencies and reductions in scrubber costs. Important environmental benefits such as reductions in greenhouse gases (SOx up to 70%, NOx up to 50%, CO2 up to 17%) and mercury can also be derived from implementation of this technology. The Company is currently constructing the first commercial facility in Indonesia with other projects soon to be announced. The potential transaction value of MicroCoal(r) installed projects being negotiated or under discussion currently exceeds $200 million.
We seek safe harbor.
On behalf of the Board of Directors,
“Dr. James Young”
Chairman and Director
For further information please contact:
MicroCoal(tm) Technologies Inc.
Telephone: (604) 676 9792
Certain statements included herein, including those that express management’s expectations or estimates of our future performance constitute “forward-looking statements” within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.
To view the press release as a PDF file, please click on the following link:
Source: MicroCoal Technologies Inc. (CNSX: MTI) http://www.microcoal.com
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Posted: February 4th, 2014 under FSCWIRE.