VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 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).