Canada Coal to Evaluate New Projects from Various Industry Sectors
March 27 2014 - 7:00AM
Marketwired
Canada Coal to Evaluate New Projects from Various Industry Sectors
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) -
Canada Coal Inc. (the "Company" or "Canada Coal"),
(TSX-VENTURE:CCK) announces that management is actively evaluating
new projects in both the resource and non-resource sectors. At this
time, no transactions are in place, nor are there any assurances
that a new transaction will be concluded in the future.
R. Bruce Duncan, President & CEO of Canada Coal Inc. stated,
"We are excited about the potential of our Nunavut Coal Project but
in light of the prolonged moratorium on exploration activity
associated with continued stakeholder consultations (see NR dated
December 17, 2013) we would be doing a disservice to our
shareholders to not investigate other opportunities that may
increase shareholder value. Canada Coal is currently trading at or
below cash value and management will be focusing on adding new
corporate drivers in the short term."
About Canada
Coal
Canada Coal is a publicly listed company focused on coal
exploration and development in Nunavut. Through its two
wholly-owned subsidiaries, Canada Sovereign Coal Corp. and 5200
Nunavut Ltd., Canada Coal holds 59 active and 9 pending coal
exploration licence blocks totalling 1,769,539 acres located
primarily on Ellesmere Island in Nunavut (the "Nunavut Coal
Property").
On behalf of the Board of Directors
R. Bruce
Duncan, President and Chief Executive
Officer
The TSX Venture Exchange has in no way passed upon the
merits of the Transaction and 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 release.
FORWARD LOOKING STATEMENTS: This news release
contains "forward-looking information" within the meaning of
Canadian securities legislation, which relates to future events or
future performance and reflect management's current expectations
and assumptions. All information contained herein that is not
clearly historical in nature may constitute forward-looking
information. Such forward-looking statements reflect management's
current beliefs and are based on assumptions made by and
information currently available to the Company. Investors are
cautioned that these forward looking statements are neither
promises nor guarantees, and are subject to risks and uncertainties
that may cause future results to differ materially from those
expected. Such forward-looking statements involve known and unknown
risks and uncertainties, as discussed in the Company's filings with
Canadian securities agencies. Various factors may prevent or delay
Company's plans, including but not limited to, (i) contractor
availability and performance, (ii) weather, (iii) access, (iv)
mineral prices, (v) success and failure of the exploration and
development carried out at various stages of the program, and (vi)
general business, economic, volatile stock price, competitive,
political and social conditions. As a consequence, actual results
may differ materially from results forecast or suggested in these
forward-looking statements and readers should not place undue
reliance on forward-looking statements. These forward-looking
statements are made as of the date hereof and, except as required
under applicable securities legislation, the Company does not
intend, and expressly disclaims any intention or obligation to,
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise. All of the
forward-looking statements made in this press release are qualified
by these cautionary statements and by those made in our filings
with SEDAR in Canada (available at
www.sedar.com).
Canada Coal Inc.R. Bruce DuncanPresident and Chief Executive
Officer1-604-638-0971info@canadacoal.comwww.canadacoal.com
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