SOURCE: New Colombia Resources, Inc.

New Colombia Resources, Inc.

March 08, 2017 09:49 ET

New Colombia Resources Inc. Announces an Additional Coal Concession Contract for Premium Metallurgical Coal to the South of their Existing Property

Company addresses late filing of Form 10K Annual Report

BARRANQUILLA, COLOMBIA--(Marketwired - Mar 8, 2017) - New Colombia Resources, Inc. (OTC PINK: NEWC) ("New Colombia or the 'Company"), a Colombian company listed in the U.S. with premium metallurgical coal properties and legal medical marijuana operations, is pleased to announce they've received notice from the Agencia Nacional de Mineria (ANM) to accept terms on their application for an additional 489 hectares of premium metallurgical coal reserves. This notice advises the company that the requested area will be reduced and to submit evidence of their ability to fund a coal operation. The Company's liquidity and stock listing in the U.S. satisfy this request. For a copy of the notice see Concession Contract RKH-08131, in the name of Company Director Erasmo Almanza, on page 8 of the following official government notice, https://www.anm.gov.co/sites/default/files/atencion_minero/estado_018_del_08_de_febrero_de_2017_-_bogota.pdf

Contract Solicitation # RKH-08131 is for 489 hectares of coal and gravel reserves to the south of the New Colombia's existing Concession Contract ILE-09551. This property is 300 meters from Highway I-50 which runs North and South between Barranquilla and Bogota. Last month, New Colombia received approval of the addition of gravel to their existing coal Concession Contract ILE-09551. They finalized the requirements of the local environmental agency and are awaiting a final site visit in the very near future. New Colombia is negotiating the purchase of several more properties in addition to their wholly owned Greenfields as they prepare to initiate a massive coal and gravel operation in Guaduas. The Company has over 4000 hectares of Concession Contracts and Solicitations in the area.

New Colombia Resources would like to address the late filing of their 10K annual report for 2015. The Company has engaged auditors since Nov. 2016; these auditors are independent and do not work at the pleasure of the Company but rather at their own pace implementing audit control measures. At the time, and now, there was no reason to believe there would be significant delays in filing of the 10K and the company was optimistic it would be filed expeditiously. Numerous transactions consisting of complex derivative accounting have caused delays beyond the Company's belief. "I share my shareholder's frustration, but at this point I have to let the auditors do their job. All I can do is give them what they ask for, which I have. I was told for the past two weeks we would be done the following week. To my knowledge, there is absolutely nothing being requested that has not been provided nor are there any reasons for concern other than auditor workload," stated John Campo, President of New Colombia Resources. "One thing is for sure, shareholders will be getting a very thorough audited annual report," further commented Mr. Campo.

The Company will be making further significant announcements covering the following topics as soon as their 10K is filed in the next few days...

  •  Initiation of Gravel Operations in Guaduas
  •  Other Concession Contracts and Solicitations
  •  Acquisitions
  •  Additional Coal Purchase Orders
  •  Coal Supply Contracts
  •  Coal Deliveries to the Port
  • $ 200 MM LOI for Power Plant
  • Water Reservoir in Melgar
  •  Baseball Marketing campaign for Sannaxhol product
  • Launch of Sannabis Non-THC products in USA this month
  • Major US Distribution through Infomercials and other means
  • Major Machine purchases for both MMJ and Coal
  • Orphan Drug Application
  • Existing Coal Purchase Order
  • Initiation of Operations for Concession Contract JC3-15231
  • Alliances with other public companies for both MMJ and Coal
  • Sanitary Registry Approvals by Colombia's INVIMA for Sannabis products
  • Much, much more...

Interest has ramped up for premium metallurgical coal from Colombia. Steps are being taken to capture a good chunk of this surge in demand.

New Colombia has begun preparations to set up their wholly owned rock crushing plant on site to begin Gravel operations with a projected 1000 m3/day output. They may add another plant to satisfy local demand for building material. To see a financial model of their rock crushing operations visit, https://drive.google.com/open?id=0BxSKP5j2FlseOFE5TVdReGRCUUE

Use this link for a site visit report and Power Point Presentation of their rock crushing operation from an independent Colorado Geological firm, Exploration Services International, https://drive.google.com/open?id=0BxSKP5j2FlseOFBMMTExY29fREk

New Colombia Resources Inc. is a two-pronged company with not only premium coking coal but medical marijuana operations, two of the hottest sectors in today's market. The Company has a joint venture in Colombia, Sannabis, producing medical marijuana products since 2014. New Colombia has hired a production company in Miami and teamed up with a retired World Series MVP to begin marketing some of these products in the U.S. where legal. For a concise independent analysis of New Colombia Resources Inc. visit https://www.insiderfinancial.com/new-colombia-resources-inc-otcmktsnewc-continues-to-run-up-on-two-pronged-strategy/118133/

To view or purchase Sannabis products visit www.sannabis.co. Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.cannamedicinal

New Colombia Resources, Inc.

New Colombia Resources, Inc. owns vast reserves of premium metallurgical coal mining titles and a medical marijuana joint venture in the Republic of Colombia. They are setting up a rock mining operation to supply the major road and infrastructure projects within miles of their properties. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 million tonnes of reserves. They have an additional 1196 ha. metallurgical coal mining title that they are negotiating to develop with a foreign entity to build a coal fired power plant. New Colombia Resources holds a significant position in Sannabis SAS which legally produces medical marijuana products in the Republic of Colombia, visit www.sannabis.co. For more information on the Company visit www.newcolombiaresources.com

Forward Looking Statements

Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements might not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.

Contact Information