Small Ventures may seek buyout of National Coal

By Lisa Kerner

Charlotte, N.C., Aug. 1 - Investors led by Small Ventures USA, LP purchased 2,011,843 shares of National Coal Corp. for an initial 6.2% ownership interest in the company.

Small Ventures said it invested approximately $12.87 million in National Coal through July 31, according to a schedule 13D filed with the Securities and Exchange Commission.

The investors plan to discuss the possibility of the acquisition of National Coal contingent on the participation of the company's management, the filing noted.

They may alternatively pursue other value-creating alternatives including changes to the overall strategic direction of the Knoxville, Tenn.-based coal producer, as well as to the company's corporate structure, capital allocation, capital-raising activities and board and management composition.

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