VANCOUVER, Nov. 19, 2019 /CNW/ - Colonial Coal
International Corp. (TSX-V: CAD) (the "Company" or
"Colonial Coal"). David
Austin, Colonial Coal's Chairman, is pleased to announce
that Partha S. Bhattacharyya has
kindly consented to be appointed to the Company's Board of
Directors.
Mr. Bhattacharyya is the former Chairman and Managing
Director of Coal India Limited, a coal-producing company
headquartered in Kolkata, West
Bengal, India. Mr.
Bhattacharyya holds a post graduate degree in physics from
Jadavpur University, Kolkata, and
a diploma in finance from ICFAI University, Hyderabad. Mr. Bhattacharyya is also a
Fellow of the Institute of Cost and Works Accountants of
India and the World Academy of
Productivity Science. Mr. Bhattacharyya joined Coal India as
a management trainee in 1977. Prior to joining our Coal
India, Mr. Bhattacharyya was the Chairman and Managing Director of
BCCL, where he played a crucial role in the turnaround of the
company, which had been reporting losses since its inception.
Mr. Austin stated: "We are very excited and extremely honoured
to have Partha join our Board of Directors. I am very pleased
that Partha has agreed to work with Company management and provide
Colonial Coal with very sound and expert advice as the Company
considers its various business development options going
forward. We are very excited by what the future holds for our
company and its shareholders and having Partha work with us now is
a further testament to the value of our various business
interests."
With Mr. Bhattacharyya's appointment, the Company also announces
that Wayne Waters, a longstanding
member of the Company's Board of Directors, has resigned for
personal health reasons. Mr. Austin stated: "We are
extremely proud of and sincerely appreciate the many good things
and advice that Wayne has brought to our Company over the many
years. We wish Wayne and his family the very best.".
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
About Colonial Coal International
Corp.
Colonial Coal is a publicly traded coal corporation in
British Columbia that focuses
primarily on coking coal projects. The northeast Coal Block
of British Columbia, within which
our Corporation's projects are located, hosts a number of proven
deposits and has been the subject of M&A activities by
Anglo-American and others. Additional information can be
found on the Company's website www.ccoal.ca or by viewing the
Company's filings at www.sedar.com.
Forward-Looking Information
Information set forth in this news release may involve
forward-looking statements. Forward-looking statements are
statements that relate to future, not past, events. In this
context, forward-looking statements often address a company's
expected future business and financial performance, and often
contain words such as "anticipate", "believe", "plan", "estimate",
"expect", and "intend", statements that an action or event "may",
"might", "could", "should", or "will" be taken or occur, or other
similar expressions. By their nature, forward-looking statements
involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or
other future events, to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others, the
following risks: risks associated with marketing and sale of
securities; the need for additional financing; reliance on key
personnel; the potential for conflicts of interest among certain
officers or directors with certain other projects; and the
volatility of common share price and volume. Forward-looking
statements are made based on management's beliefs, estimates and
opinions on the date that statements are made and except as
required by law, the Company undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change. Investors are cautioned
against attributing undue certainty to forward-looking
statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE
REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS
NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH
DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING
INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY
OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE
TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS
REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
SOURCE Colonial Coal International Corp.
