Newlead Holdings Ltd. (fka NEWLF)

[stockstuffer]

The aggregate acquisition price for the two mines and the coal wash plant is $68.0 million and is being funded as follows:

$15.0 million Senior Secured Convertible Note issued with an 8% coupon, maturing on December 31, 2014 and convertible into equity at market price on each payment date at the sole discretion of the Company, subject to a true up based on the subsequent sales of such shares; $21.0 million Senior Secured Convertible Note issued with an 8% coupon, maturing on December 31, 2014 and convertible into equity at market price on each payment date at the sole discretion of the Company, subject to a true up based on the subsequent sales of such shares; $20.0 million from warrants, exercisable at $0.01, for 224,946,575 of Company's common shares; 38,524,590 shares representing $5.875 million; and $6.125 million in cash.

Newlead Holdings Ltd. Announces Acquisition of Viking Mine in Kentucky, USA with 4,795 Mineral Acres and 20 Million Tons in Estimated Coal Reserves; Agreement to Acquire an Additional Mine and Coal Wash Plant in Kentucky; Update on Acquisition of the Five

NewLead Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company") announced today that on Friday, September 13, 2013, the Company completed the acquisition of titles in the Viking Mine located in Kentucky, USA with 4,795 mineral acres containing approximately 20 million tons of estimated coal reserves. The Company expects to receive a reserve report compliant with the U.S. Securities and Exchange Commission ("SEC") methodology within Q4 2013. The Company is already generating revenue from this mine and will negotiate deals with mineral rights holders on this property by Q2 2014.

http://www.trading-house.net/news/boulevard-newlead-holdings-ltd-announces-acquisition-of-viking-mine-in-kentucky-usa-with-4-795-mineral-acres-and-20-million-tons-in-estimated-coal-reserves-agreement-to-acquire-an-additional-mine-and-coal-wash-plant-in-kentucky-update-on-acquisition-of-the-five-31927747