America West Resources Subsidiary, Hidden Splendor Resources, Officially Exits Chapter 11
December 23 2008 - 7:30AM
PR Newswire (US)
SALT LAKE CITY, Dec. 23 /PRNewswire-FirstCall/ -- America West
Resources, Inc. (OTC:AWSR) (BULLETIN BOARD: AWSR) , a domestic coal
producer with mining operations in Central Utah, today announced
that its wholly owned subsidiary Hidden Splendor Resources, Inc.
has successfully emerged from Chapter 11, effective December 22,
2008. Dan Baker, Chief Executive Officer of America West Resources,
said, "Hidden Splendor's emergence from bankruptcy is the start of
a new era for our Company. The reorganization allowed us to
optimize our cost structure and take meaningful steps towards
materially enhancing our mining processes. With plans to achieve
even greater operational efficiencies and coal production growth
through mine expansion initiatives, coupled with growing demand for
our clean coal resources, the future of America West looks very
promising." As previously announced, the Company has entered Coal
Supply Contracts with a number of new customers over the past
several months, collectively representing up to $40 million in
potential revenues in 2009. About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources, Inc.
is an established domestic coal producer focused on the mining of
clean and compliant (low-sulfur) coal and its sale primarily to
U.S. utility companies for use in generating electricity. Since
2003, the Company has extracted over 1.4 million tons of coal from
its owned and operated Horizon Coal Mine based in Central Utah. For
more information, please visit http://www.americacoal.com/.
Forward-Looking Statements This news release contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Please refer to the
Company's Form 10-KSB and other filings with the United States
Securities and Exchange Commission (the "SEC") for additional
information regarding risks and uncertainties, including, but not
limited to, the risk factors listed from time to time in such SEC
reports. Copies of these filings are available through the SEC's
electronic data gathering analysis and retrieval system (EDGAR) at
http://www.sec.gov/. FOR ADDITIONAL INFORMATION, PLEASE CONTACT:
ELITE FINANCIAL COMMUNICATIONS GROUP Dodi B. Handy, President &
CEO For Media Inquiries: Tiffany Korkis or John Morrison, Managing
Directors of Elite Media Group 407-585-1080 or via email at
DATASOURCE: America West Resources, Inc. CONTACT: Tiffany Korkis or
John Morrison, Managing Directors of Elite Media Group,
+1-407-585-1080, , both for America West Resources, Inc. Web site:
http://www.americacoal.com/
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