Canada Coal Inc.
TSX VENTURE : CCK

Canada Coal Inc.

February 03, 2017 13:14 ET

Canada Coal Terminates Discussions With Honu Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb. 3, 2017) - Canada Coal Inc. (the "Company" or "Canada Coal"), (TSX VENTURE:CCK) announces that further to the Company's news releases of December 8th, 2016 and November 18th, 2016, Canada Coal wishes to confirm that it has terminated discussions with Honu Inc. due to a breach by Honu Inc. of the exclusivity provisions contained in the letter of intent signed by the parties.

The Company has served notice of this breach.

The Company is actively pursuing other merger candidates in the market and will provide updates as required.

R. Bruce Duncan, President and Chief Executive Officer

"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 release."

FORWARD LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. 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. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. 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).

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