DGAP-News

SinoCoking Announces Entry Into Agreement for $14.3 Million Registered Direct Offering of Common Shares and Warrants - Seite 2

any prospectus contained therein is not available for use (a 'Registration
Failure'). The Series B warrants expire on the date ten months from the date
the Initial Offering closes if no Registration Failure has occurred prior
thereto or, if a Registration Failure does occur prior to such date, on the
fourth anniversary of such Registration Failure.

Gross proceeds of the offering of common shares in the Initial Offering, before
deducting placement agent fees and other estimated offering expenses payable by
the Company, are expected to be approximately $14.3 million. The net proceeds
from this offering will be used for working capital and other general corporate
purposes.

FT Global Capital, Inc. served as the exclusive placement agent for the
offering.

A shelf registration statement relating to these securities has been filed with
and declared effective by the Securities and Exchange Commission. A prospectus
supplement related to the offering will be filed with the Securities and
Exchange Commission. This press release does not constitute an offer to sell or
the solicitation of an offer to buy, and these securities cannot be sold in any
state in which this offer, solicitation, or sale would be unlawful prior to
registration or qualification under the securities laws of any such state. Any
offer will be made only by means of a prospectus, including a prospectus
supplement, forming a part of the effective registration statement.

About SinoCoking

SinoCoking and Coke Chemical Industries, Inc. (www.scokchina.com), a Florida
corporation, is a vertically-integrated coal and coke processor that uses coal
from both its own mines and that of third-party mines to produce basic and
value-added coal products for steel manufacturers, power generators, and
various industrial users. SinoCoking has been producing metallurgical coke
since 2002, and acts as a key supplier to regional steel producers in central
China. SinoCoking also produces and supplies thermal coal to its customers in
central China. SinoCoking currently owns its assets and conducts its operations
through its subsidiaries, Top Favour Limited and PingdingshanHongyuan Energy
Science and Technology Development Co., Ltd., and its affiliated companies,
Henan Province PingdingshanHongli Coal & Coke Co., Ltd., Baofeng Coking
Factory, BaofengHongchang Coal Co., Ltd., BaofengHongguang Environment
Protection Electricity Generating Co., Ltd., Zhonghong Energy Investment
Company, Henan Hongyuan Coal Seam Gas Engineering Technology Co., Ltd.,
BaofengShuangri Coal Mining Co., Ltd., and BaofengXingsheng Coal Mining Co.,
Ltd.

For further information about SinoCoking, please refer to our periodic reports