The investment was subject to Cuesta Coal Shareholder, FIRB, and Chinese regulatory approvals, as well as satisfactory completion of due diligence.
The firms have completed the first stage $5m pre- Initial Public Offering (IPO) investment at $0.25 per share and the funds have been received by Cuesta Coal.
Under the $15m second stage of investment, agreement will be completed under Cuesta Coal’s proposed IPO.
