Pacific Coal announces appointment of Executive Chairman
September 07 2012 - 7:40AM
PR Newswire (Canada)
TORONTO, Sept. 7, 2012 /CNW/ - Pacific Coal Resources Ltd. is
pleased to announce the appointment of Mr. Hernan Martinez as a
director and Executive Chairman of the Company, effective
immediately, to replace the Company's current Co-Chairmen, Mr.
Serafino Iacono and Mr. Miguel de la Campa. Messrs. Iacono and de
la Campa have tendered their resignation as Co-Chairmen but will
continue on in their role as directors of the Company. Mr. Martinez
has served as the Colombian Minister of Mines and Energy from July
2006 to August 2010 and has also served as President of
International Colombia Resources Corporation, President of Atunec
S.A., President and Chief Executive Officer of Exxon Mobil Colombia
S.A., and Manager of Corporate Planning for Esso Colombiana S.A.
Previously, he has acted as a director of various private and
public companies, including Interconexion Electrica S.A. ESP,
Transmision Electrica S.A., and Inversura S.A., ISAGEN Energia
Productiva, and Cart Ecopetrol. Mr. Martinez has also served as
Council President and Representative of the President of Colombia
at the National Hydrocarbons Agency (ANH). He currently sits on the
board of directors of CB Gold Inc., Pacific Rubiales Energy Corp.,
and Gran Colombia Gold Corp. The Company would like to thank
Messrs. Iacono and de la Campa for their efforts and contributions
to advance the Company's assets in their role as Co-Chairmen. Their
service, insight and experience has been invaluable to the Company
and will continue to be so in their role as directors of the
Company. About Pacific Coal Resources Ltd. Pacific Coal Resources
Ltd. is a Canadian-based mining company focused on coal, coking
coal, asphalt and asphaltite exploration, development and
production from prospective producing, development-stage and
exploration-stage properties in Colombia. The Company has acquired
or entered into agreements to acquire various interests in several
operating coal mines and projects, representing a substantive coal
and asphaltite exploration and production area throughout Colombia.
Pacific Coal is committed to implementing its exploration and
development strategy with a comprehensive environment, safety and
community program, meeting international standards of best
practice. Forward Looking Information: This news release contains
"forward-looking information", which may include, but is not
limited to, statements with respect to the future financial or
operating performance of the Company and its projects. Often, but
not always, forward-looking statements can be identified by the use
of words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates", or
believes" or variations (including negative variations) of such
words and phrases, or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking statements involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of Pacific Coal to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements. Forward-looking statements contained herein are made as
of the date of this press release and Pacific Coal disclaim, other
than as required by law, any obligation to update any
forward-looking statements whether as a result of new information,
results, future events, circumstances, or if management's estimates
or opinions should change, or otherwise. There can be no assurance
that forward-looking statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, the reader is
cautioned not to place undue reliance on forward-looking
statements. Neither 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. Pacific Coal Resources Ltd. CONTACT:
Peter VolkGeneral Counsel(416) 360-8725
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