Prophecy Secures C$10 Million Loan to Acquire Tugalgatai Coal Licenses in Mongolia

Vancouver-based Prophecy Coal Corp. has arranged a C$10 million secured debt facility with Toronto-based resource-focused investment fund, Waterton Global Value, L.P. The funds will be used to complete the purchase of the Tugalgatai, Mongolia coal licenses. Prophecy Coal Corp. is engaged in developing energy projects in Mongolia.