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February 7, 2014
16:01 EDTJRCCJames River Coal to explore strategic alternatives
James River Coal announced that it is exploring and evaluating potential strategic alternatives for the company, which may include a capital investment through debt and/or equity securities or a sale of all or one or more portions of the company. In connection with launching this process, the company has entered into an amendment to its Revolving Credit Agreement which will provide the company with continued access to its revolving credit facility during the strategic review process. A complete description of the material terms of the Amendment will be filed with the SEC on Form 8-K. To assist in the process of identifying, evaluating and pursuing potential strategic alternatives, the company has engaged Perella Weinberg Partners LP as restructuring advisor, Deutsche Bank Securities as M&A advisor and Davis Polk & Wardwell LLP as legal advisor. The company has not made a decision to pursue any specific transaction or other strategic alternative, and there can be no assurance that the exploration of strategic alternatives will result in the identification or consummation of any transaction. The company does not intend to comment further regarding this process until such time as its Board of Directors has determined the outcome of the process or otherwise determined that disclosure is required or appropriate.
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