09:43 AM EST - CanAm Coal Corp. : announced that it has completed its transaction to acquire an additional 49% ownership stake in RAC Mining LLC and certain other assets from Job Land & Mineral Inc., its previous partner in RAC. As a result of the Transaction, CanAm, through its wholly-owned subsidiary Radar USA Hold Corp. and its majority-owned subsidiary RAC Mining LLC, has acquired from JLM its 49% ownership share in RAC, its ASMC and ADEM permits associated with the Powhatan mine and its leases associated with the Powhatan lands. In consideration for the Acquired Assets, CanAm paid a purchase price of $1,486,250 U.S. comprised of: a cash payment of $251,931 U.S. to JLM and assumption by CanAm of a maximum of $1,234,319 U.S. of JLM's indebtedness of which $900,000 is due to RAC Mining LLC. CanAm Coal Corp.
shares V.COE are trading even at $0.14.
