Funds Managed by Libra Advisors, LLC Acquire Units of Colonial Coal
International Corp. for Investment Purposes

TORONTO, Oct. 13 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired both 3,247,000 common shares and 3,247,000 warrants of Colonial Coal International Corp. ("Colonial") upon the automatic exchange of the 3,247,000 subscription receipts of Ananda Capital Corp. ("Ananda") previously acquired by the Funds in July 2010.  The Funds also acquired 2,000,000 common shares of Colonial upon the exchange of common shares of Ananda.

The Funds acquired the subscription receipts at a price of $0.77 per subscription receipt. Each subscription receipt entitled the holder to receive one common share and one warrant of Colonial without further consideration, if the Transaction (defined below) was completed. Colonial Coal Corporation and Ananda completed a reverse takeover transaction (the "Transaction") on October 7, 2010 pursuant to which the subscription receipts were exchanged for common shares and warrants of Colonial as noted above.  Each warrant is exercisable for one common share of Colonial at a price of $1.10 for a period of 36 months from the date of issue.  Colonial became listed on the TSX Venture Exchange on October 12, 2010.

On September 8, 2010, the Funds also acquired 2,000,000 common shares of Ananda at a price of $0.58 per share, which became common shares of Colonial on completion of the Transaction.

As a result of the Transaction, the Funds now hold 5,247,000 common shares of Colonial representing approximately 9.97% of the total outstanding common shares of Colonial, and 3,247,000 warrants of Colonial that, if exercised, would result in the Funds' holding approximately 15.20% of the total outstanding common shares of Colonial.

The Funds acquired the subscription receipts for investment purposes and may, from time to time, acquire additional securities of Colonial or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29^th Floor, New York, NY 10022.

For further information:

Mr. Ranjan Tandon, Managing Member, at [phone]