ABINGDON, Va., July 6 /PRNewswire-FirstCall/ -- Alpha Natural
Resources, Inc. (NYSE:
ANR -
News), a leading Appalachian coal
producer, today announced that the post-effective amendment to its subsidiaries'
exchange offer registration statement was declared effective by the Securities
and Exchange Commission on July 5, 2005. To provide noteholders with time to
review the prospectus dated July 5, 2005, Alpha's subsidiaries have extended the
expiration date for their exchange offer from 5:00 p.m., New York City Time, on
Wednesday, July 6, 2005, to 5:00 p.m., New York City Time, on Friday, July 15,
2005, unless further extended. All other terms, provisions and conditions of the
exchange offer will remain in full force and effect.
The subsidiaries of Alpha Natural Resources, Inc. commenced the exchange
offer on May 12, 2005, offering to exchange up to $175 million aggregate
principal amount of their 10% Senior Notes due 2012 and related guarantees
registered under the Securities Act of 1933, as amended, for any and all of
their outstanding 10% Senior Notes due 2012 and related guarantees. As of 5:00
p.m. New York City Time on July 5, 2005, $170,325,000 aggregate principal amount
of the outstanding notes had been tendered for exchange, representing
approximately 97.3 percent of the outstanding notes.
A Form S-4 registration statement filed by the subsidiaries of Alpha Natural
Resources, Inc. with the SEC regarding the exchange offer was declared effective
by the SEC on May 11, 2005. In an effort to simplify the financial statements
required to be presented by the exchange offer registrants in future public
filings with the SEC, additional subsidiaries of Alpha Natural Resources, Inc.
were added as guarantors of the notes. The subsidiaries of Alpha Natural
Resources, Inc. filed a post-effective amendment to their registration statement
to add financial information regarding the guarantor entities, which was
declared effective by the SEC today, July 6, 2005. The expiration date for the
exchange offer is being extended to provide time for holders of the outstanding
notes to review the prospectus dated July 5, 2005, relating to the exchange
offer.
This press release does not constitute an offer of any securities. A copy of
the prospectus dated July 5, 2005, and other materials relating to the exchange
offer may be obtained from Wells Fargo Bank, N.A., the exchange agent, at (800)
344-5128.
About Alpha Natural Resources
Alpha Natural Resources is a leading producer of high-quality Appalachian
coal. Approximately 94 percent of Alpha's reserve base is high Btu coal and 89
percent is low sulfur, qualities that are in high demand among utilities that
use coal to produce electricity. Alpha is also one of the nation's largest
producers and exporters of metallurgical coal, a key ingredient in steel
manufacturing. Alpha currently operates 11 coal preparation and blending plants
and more than 60 mines in four states.
