CALGARY, AB--(Marketwire - Mar 5, 2012) - CanAm Coal Corp. (TSX VENTURE: COE) (OTCQX: COECF) ("CanAm" or the "Company") is pleased to announce the appointment
of Mr. Scott
Bolton as the new Chief Financial Officer of the Company. Concurrently with
this
appointment, Mr. Jos De Smedt, the current CFO, will take on the
role of
President and Chief Operating Officer. Mr. Tim Bergen will continue in his
role
as Chief Executive Officer.
"Since late 2009, CanAm has repositioned itself as a coal producer
and the
Company has embarked on an aggressive growth strategy. With an
estimated
production target of 500,000 tons in 2012, the Company's ultimate goal
is to
become a 3 million ton per year producer through both organic
growth and
accretive acquisitions. In order to achieve this goal, we had to
expand our
management and executive capabilities with another senior and
experienced
individual who can add significant value and bring additional
credibility to
CanAm's impressive growth story", said Jonathan Legg, Chairman of the
Board.
"With his 25+ years of experience at PwC, there is no doubt that Scott
will
bring tremendous value to our Company. As to Jos, our new President and
COO, he
has, over the last couple of years, assumed a broader leadership role
in the
Company and was instrumental in the tactical execution of our
strategy. We
believe that his leadership and skill set will further enable CanAm to
achieve
its goal of becoming an intermediate coal producer."
Mr. Bolton is a Senior Partner with PricewaterhouseCoopers ("PwC"),
based in
Calgary. He leads PwC's Canadian energy practice, is the Partner
responsible
for the Calgary Consulting and Deals practice and is Chief Financial
Officer of
the overall Consulting and Deals practice for Canada. Scott is also a
senior
member of the PwC's global Energy, Utilities & Mining leadership
team. As
Energy Leader, Mr. Bolton is responsible for service delivery for a
number of
large international and Canadian energy companies. He brings
considerable
experience in a broad range of technical areas including business
strategy,
mergers and acquisitions, due diligence, valuations, integration, supply
chain
management, enterprise risk management, accounting and auditing. In the
past
decade he has worked on numerous transactions in all size ranges,
primarily for
energy sector clients. A Chartered Accountant by training, Mr. Bolton
started
with PwC in Edmonton and has worked in PwC's Brussels, Belgium,
Toronto and
Calgary offices. He has 26 years' experience with PwC including 15 years
as a
Partner.
Mr. Bolton will join CanAm in the next couple of months as he
transitions his
current responsibilities at PwC.
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.
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.
1201 - 5(th) Street SW
Calgary, AB
T2R 0Y6
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Source: CanAm Coal Corp. via Thomson Reuters ONE
[HUG#1591157]