EX-99.1
3
v168358_ex99-1.htm
Investor
Relations Contact:
Company
Contact:
Crocker
Coulson, President
Laby
Wu, Chief Financial Officer, Director of
Investor
Relations
CCG
Investor Relations
Puda
Coal, Inc.
+1-646-213-1915
+86-10-6439-2405
crocker.coulson@ccgir.com
labywu@gmail.com
www.pudacoalinc.com
Elaine
Ketchmere, VP of Financial Writing
+1-310-954-1345
elaine.ketchmere@ccgir.com
www.ccgirasia.com
FOR IMMEDIATE
RELEASE
Puda
Coal Closes Jianhe Coal Mine Acquisition
TAIYUAN, SHANXI PROVINCE,
China
, December 7, 2009 - Puda Coal, Inc. (NYSE Amex: PUDA), a supplier
of high grade metallurgical coking coal used to produce coke for steel
manufacturing in China, today announced the closing of its 18% equity transfer
agreement with Shanxi Jianhe Coal Industry Limited Company ("Jianhe
Coal").
In May
2009, the Company entered into an equity transfer agreement ("the Agreement") to
acquire 18% of Jianhe Coal. Pursuant to the Agreement, the stockholder owning
the other 82% of Jianhe Coal guaranteed the Company first priority rights
to purchase the remaining shares of Jianhe Coal within the 24-month period
following execution of the Agreement. The Company will be paid proportionate
semi-annual dividends based on its 18% ownership. Total dividends for Jianhe
Coal will be no less than 80% of its annual net profit.
"Leveraging
our status as a consolidator of eight coal mines in Pinglu County, we are
applying to be a consolidator in the coal reserve area where Jianhe Coal is
located", commented Mr. Zhu Liping, Chairman and CEO of Puda Coal. "We are
confident that our strategic transition upstream into the coal mining business
will increase our profitability and maximize our shareholder
value."
About
Puda Coal Inc.
Puda
Coal, through its subsidiaries, supplies premium high grade metallurgical coking
coal used to produce coke for steel manufacturing in China. The Company
currently possesses 3.5 million metric tons of annual coking coal capacity.
Shanxi Province provides 20 - 25% of China's coal output and supplies nearly 50%
of China's coke. For more information, please visit
www.pudacoalinc.com
FORWARD-LOOKING
STATEMENTS
The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future financial performance, and
involve known and unknown risks, uncertainties and other factors that may cause
our actual results, levels of activity, performance, or achievements to be
materially different from any future results, levels of activity, performance or
achievements expressed or implied by these forward-looking statements. You
should not place undue reliance on forward-looking statements since they involve
known and unknown risks, uncertainties and other factors which are, in some
cases, beyond our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. Any
forward-looking statement reflects our current views with respect to future
events and is subject to these and other risks, uncertainties and assumptions
relating to our operations, results of operations, growth strategy and
liquidity. For example, our plan to acquire and consolidate more coal mines is
subject to, among other things, the risks and uncertainties relating to the
market and geological condition, due diligence, negotiation for definitive
agreements, etc. which are beyond our control, as well as our management's
ability and capacity to execute our coal mine acquisition strategy and manage
the coal mine operations. We assume no obligation to publicly update or revise
these forward-looking statements for any reason, or to update the reasons actual
results could differ materially from those anticipated in these forward-looking
statements, even if new information becomes available in the
future.
###

EX - 99 . 1 3 v168358 _ ex99 - 1 . htm Investor Relations Contact : Company Contact : Crocker Coulson , President Laby Wu , Chief Financial Officer , Director of Investor Relations CCG Investor Relations Puda Coal , Inc . + 1 - 646 - 213 - 1915 + 86 - 10 - 6439 - 2405 crocker.coulson@ccgir.com labywu@gmail.com www.pudacoalinc.com Elaine Ketchmere , VP of Financial Writing + 1 - 310 - 954 - 1345 elaine.ketchmere@ccgir.com www.ccgirasia.com FOR IMMEDIATE RELEASE Puda Coal Closes Jianhe Coal Mine Acquisition TAIYUAN , SHANXI PROVINCE , China , December 7 , 2009 - Puda Coal , Inc . ( NYSE Amex : PUDA ) , a supplier of high grade metallurgical coking coal used to produce coke for steel manufacturing in China , today announced the closing of its 18 % equity transfer agreement with Shanxi Jianhe Coal Industry Limited Company ( " Jianhe Coal " ) . In May 2009 , the Company entered into an equity transfer agreement ( " the Agreement " ) to acquire 18 % of Jianhe Coal . Pursuant to the Agreement , the stockholder owning the other 82 % of Jianhe Coal guaranteed the Company first priority rights to purchase the remaining shares of Jianhe Coal within the 24 - month period following execution of the Agreement . The Company will be paid proportionate semi - annual dividends based on its 18 % ownership . Total dividends for Jianhe Coal will be no less than 80 % of its annual net profit . " Leveraging our status as a consolidator of eight coal mines in Pinglu County , we are applying to be a consolidator in the coal reserve area where Jianhe Coal is located " , commented Mr . Zhu Liping , Chairman and CEO of Puda Coal . " We are confident that our strategic transition upstream into the coal mining business will increase our profitability and maximize our shareholder value . " About Puda Coal Inc . Puda Coal , through its subsidiaries , supplies premium high grade metallurgical coking coal used to produce coke for steel manufacturing in China . The Company currently possesses 3 . 5 million metric tons of annual coking coal capacity . Shanxi Province provides 20 - 25 % of China 's coal output and supplies nearly 50 % of China 's coke . For more information , please visit www.pudacoalinc.com FORWARD - LOOKING STATEMENTS The information contained herein includes forward - looking statements . These statements relate to future events or to our future financial performance , and involve known and unknown risks , uncertainties and other factors that may cause our actual results , levels of activity , performance , or achievements to be materially different from any future results , levels of activity , performance or achievements expressed or implied by these forward - looking statements . You should not place undue reliance on forward - looking statements since they involve known and unknown risks , uncertainties and other factors which are , in some cases , beyond our control and which could , and likely will , materially affect actual results , levels of activity , performance or achievements . Any forward - looking statement reflects our current views with respect to future events and is subject to these and other risks , uncertainties and assumptions relating to our operations , results of operations , growth strategy and liquidity . For example , our plan to acquire and consolidate more coal mines is subject to , among other things , the risks and uncertainties relating to the market and geological condition , due diligence , negotiation for definitive agreements , etc . which are beyond our control , as well as our management 's ability and capacity to execute our coal mine acquisition strategy and manage the coal mine operations . We assume no obligation to publicly update or revise these forward - looking statements for any reason , or to update the reasons actual results could differ materially from those anticipated in these forward - looking statements , even if new information becomes available in the future . # # #
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