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MicroCoal(r) Technologies to Raise up to US$10 Million by way of a Non-Brokered Private Placement


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2014-03-03 15:07:06 -

This press release is not to be distributed to U.S. newswire services or to be disseminated in the United States. Any failure to comply with this restriction may constitute a violation of U.S. securities laws.


Vancouver, British Columbia CANADA, March 03, 2014 /FSC/ - MicroCoal Technologies Inc. (MTI - CSE, CFQSF - OTC Pink, OFS.F - Frankfurt"MicroCoal" or the "Company") today announced that it intends to carry out a non-brokered private placement (the "Private Placement") of up to 50,000,000 units of the Company (each, a "Unit") at US$0.20 per Unit for aggregate gross proceeds of up to US$10,000,000.

Each Unit will be comprised of one common share of the Company and one common share purchase warrant (the "Warrants Each Warrant will

entitle the holder thereof to acquire one common share at an exercise price of US$0.30 for up to 12 months following the date of issuance, subject to the terms thereof. Closing of the Private Placement may occur in one or more tranches and is subject to the receipt of all necessary approvals, including the approval of the Canadian Securities Exchange (the "CSE

The Company intends to use the net proceeds from the Private Placement to advance construction on the Company's first commercial facility in Indonesia for upgrading low rank coals and for general corporate purposes and working capital. The Company may pay a finder's fee to one or more arm's length parties in connection with the Private Placement in accordance with the policies of the CSE. All Units, common shares and Warrants issued under the Private Placement will be subject to a four-month hold period from the closing date(s), in accordance with the rules and policies of the CSE and applicable Canadian securities laws and such other restrictions as may apply under foreign securities laws.

The Units, common shares and Warrants 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 U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Units, common shares or Warrants, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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 and mercury can also be derived from implementation of this technology. The Company is currently constructing the first commercial facility in Indonesia and discussions for other projects are underway.

On behalf of the Board of Directors,

"Dr. James Young"
Chairman of the Board of Directors

For further information, please contact:

MicroCoal(tm) Technologies Inc.
Telephone: (604) 676 9792
E-mail: office@microcoal.com

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking statements that reflect the current views and/or expectations of MicroCoal with respect to its performance, business and future events, including statements regarding cash flow, growth and future prospects of our business, the completion of the first full scale MicroCoal facility, our perceptions of the industry and markets in which we operate and anticipated trends in such markets, the entry into of additional agreements for MicroCoal facilities, and the approval and closing of the Private Placement, if any. The reader is cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying the Company's expectations regarding forward looking statements contained in this news release include, among others: that MicroCoal will complete the first full scale facility in Indonesia as expected, that negotiations will proceed for other projects, that MicroCoal will receive all necessary approvals for the Private Placement and that it will be able to close the Private Placement. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, that the first full scale facility in Indonesia may not be completed or operate as expected and that MicroCoal may not be able to negotiate agreements for additional projects on terms acceptable to MicroCoal. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements, which are qualified in their entirety by this cautionary statement. 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, please click on the following link:
www.usetdas.com/pr/microcoal03032014.pdf


Source: MicroCoal Technologies Inc. (CNSX: MTI) www.microcoal.com
Maximum News Dissemination by FSCwire. www.fscwire.com


Author:
Fred Gautreau
e-mail
Web: www.fscwire.com
Phone: 14037173898

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