CanAm Coal Corp.

October 22, 2012 09:33 ET

CanAm Coal Corp. : CanAm Announces Realignment of Corporate Executive Roles

CALGARY, AB--(Marketwire - Oct 22, 2012) -


Calgary, AB - October 22, 2012 - CanAm Coal Corp. (TSXV: COE), (OTCQX: COECF) ("CanAm" or the "Company") announces a realignment of executive roles at its corporate office. After serving six years as the Company's Chief Executive Officer, Tim Bergen has made a personal decision to step away from day to day Company operations in order to focus solely on business development activities. As a result, Tim will step down as Company CEO and assume the title of Vice Chairman of the board responsible for business development. Tim's mandate will be to develop the Company's 1 to 3 year expansion plan including identifying and evaluating high value development projects and opportunities to develop a seaborne market for the Company's coal reserves. Jos De Smedt, CanAm's President and Chief Operating Officer will assume Tim's day to day management responsibilities. Commenting on the role change, CanAm's Chairman Jon Legg noted, "Under Tim Bergen's leadership, CanAm successfully transitioned from a development company to a full production company, which has delivered exponential growth highlighted by the acquisition of an 80% interest in Birmingham Coal & Coke. With this acquisition completed, the Company is fully focused on operational execution and delivering strong financial results. Our Calgary and Alabama based management team led by Jos De Smedt has the capacity and experience to deliver on this mandate and Bob and Tom Lewis will be responsible for day to day management at all of our mines. As a result, Tim has determined that he can best serve the Company by focusing on development of future growth opportunities. Tim will continue to be a key member of the board of directors going forward". The role change is effective immediately.

The Company is also announcing that, effective immediately, Jos De Smedt has been appointed to the Board of Directors.

About CanAm Coal Corp.

CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources and resource- related technologies. CanAm's main activities and assets include its four operating coal mines in Alabama and the Buick Coal Project which holds significant coal resources, 188 million indicated and 103 million inferred resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.

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 Information and Statements

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward- looking information except in accordance with applicable securities laws.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: CanAm Coal Corp. via Thomson Reuters ONE

[HUG#1650884]

Contact Information

  • For Further Information:

    CanAm Corporate Office:
    Tim Bergen, CEO
    Tel: 403.262.3797
    Toll Free: 1.877.262.5888
    Email: Email Contact

    Brisco Capital Partners:
    Scott Koyich, Partner
    Tel: 403.262.9888
    Email: Email Contact