Vancouver, B.C. February 24, 2004 ? Western Canadian Coal Corp. (TSX-V:WTN) (?Western? or the ?Company?) announces its intention to admit Western to the Alternate Investment Market of the London Stock Exchange plc (?AIM?). Williams de Broë Plc will advise Western on the admission. The proposed admission will be subject to market conditions.
The Directors of Western believe that the proposed listing will be an important step for the Company. A dual listing on the LSE and the TSX-V is expected to help raise the profile of the Company. It is expected that the Company will achieve a broader shareholder base and increase liquidity in trading of its shares by attracting investors from the UK and Europe. The Directors also believe that the listing will significantly enhance the Company?s growth potential.
In connection with its intention to be admitted to AIM, the Company advises that it has agreed to an equity financing, the terms and conditions of which are yet to be finalized, and which will be subject to regulatory approvals if and as required.
In unrelated matters, the board of directors has approved the appointment of Mr. William Burton P.Eng. as VP Operations, effective immediately. Mr. Burton brings extensive coal production experience to Western, including the startup of two open pit coal mines in Western Canada. Mr. Burton contributed in senior engineering and management roles over the past 17 years with a major Canadian gold producer.
Western has also granted 245,000 incentive stock options at an exercise price of $0.80 to certain officers and consultants pursuant to the Company?s stock option plan.
Western Canadian Coal Corp. is a Vancouver based coal company with a large portfolio of coal properties in northeast British Columbia. The Company currently has more than 250 million tonnes of coal subject to exploration, development and production planning, with priority on placing its Perry Creek operation in commercial production in Q2 2006.
Charles G. Pitcher
President & C.E.O.
Western Canadian Coal Corp.
Contact Barry Girling or Charles Pitcher, President at 604-608-2692 or email@example.com
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