BARRANQUILLA, COLOMBIA--(Marketwired - Dec 15, 2016) - New Colombia Resources, Inc. (OTC PINK: NEWC), a Colombian company listed in the U.S. with metallurgical coal and medical marijuana companies in Colombia is pleased to post this letter to shareholders...
I'm happy to report that we are finalizing agreements and contracts that will generate significant cash flow. I realize the extreme importance of being current with our SEC filings, our auditor, Malone Bailey in Houston, TX is currently reviewing our annual report. A conference call yesterday between our accountants and auditors identified some small requests by auditors that the accountants will provide and a filing is expected shortly thereafter. Company current assets, most liabilities, subsidiary ownerships, business plans, etc. are all in the audited 10K Annual Report filed last year. Before last year New Colombia Resources had never been not current and always filed in a timely manner. Our limited cash resources were used to build two businesses, mining and Medical Marijuana products in Colombia. Going forward as we generate revenue from several businesses, we don't anticipate this happening again as we aim to trade on a higher exchange
Coal and Rock Mining
Metallurgical coal prices continue to maintain over 300% gains this year at $ 285/tonne. We recently filed an 8K disclosing a joint venture with MSG Mining Corp. to develop Concession Contract JC3-15231 in Cucuta. My partners Erasmo and Tito have been meeting with geologists and engineers that will operate the mine to initially produce 10,000 tonnes/month starting in 4-8 weeks. They've been at the mining and environmental agencies assuring a smooth operation. Our specially designed water system will be a showcase for environmental agencies across Colombia to encourage other miners to avoid polluting the waterways. Our J.V. partner, Tito Castillo, is a chemical engineer setting up state of the art water systems around the world for over 20 years.
Contracted operators will supply the equipment and manpower to mine the coal, we contract a trucking company to deliver it 25 Km to our 50,000 tonne storage yard where it's then hauled to an export terminal on the Caribbean coast. I'm finalizing a purchase order for up to a 60,000 tonne delivery in April, most of this will be sourced from neighboring mines. Once I have the purchase order I'll file an 8K with complete details. The purchase order, mining titles with permits, and operator's agreement allows us to get traditional financing to begin operations and buy from existing mines in the area, store it and ship it to the coast.
The Guaduas rock mining operation is also expected to begin next quarter, we're still waiting for the approval of the addition of rock mining to our approved mining permit for coal. When we added rock mining, coal prices were depressed, so we decided to mine rocks to supply the many road projects in our area. We received notice from the mining agency that the application is still being reviewed. We don't anticipate any issues since we addressed all concerns from their site visit earlier this year. All we can do is wait and start setting up the rock crushing plant we purchased so we can begin to work immediately once approved. Earlier this year a large Asian company gave us a letter of intent to develop a power plant and coal operation. They've asked for extension to begin the project. We are in Guaduas, to see the road project click http://www.consorciovialhelios.com/proyectos.php?seccion=3
Sannabis, our joint venture, introduced a newly designed product line that will enhance sales. Sannabis is a medical marijuana pioneer in Colombia operating in an area notorious for growing high quality marijuana all year round. Our indigenous partners who are totally opposed to illegal drug trafficking and legally grow 100% organic, all natural medical marijuana on their reservation, process it onsite into a variety of topical and oral products that are sold by distributors throughout Colombia. Not only are we providing for the farmers but we create value added jobs in product development to the community. The Colombian military contacted us to establish alternative crops for other indigenous regions of Colombia in post conflict zones. This will be documented by reporters and film crews and is expected to garner significant international attention. Infomercials will be filmed next month with retired professional athletes promoting our all natural CBD products for the U.S. market and medical marijuana products for the Colombia market. International interest has sparked and we're gearing up to manufacture dozens of products for international buyers.
I'm meeting with Dr. Stanley Satz of Advanced Imaging Projects (AiP) today to finalize our joint venture agreements to file for an orphan drug designation with the Food and Drug Administration (FDA). We've identified the indications we will file for and they'll be detailed in an 8K filing along with file numbers.
Some of you have been here to see our operations, I invite all of you to do the same. Please email me for documentation of any item mentioned in this letter. I look forward to keeping you current on all developments, but more importantly posting audited revenue and earnings.
President/Chairman of the Board
To view or buy Sannabis products visit www.sannabis.co. Follow Sannabis on Facebook for photos and testimonials at https://www.facebook.com/sannabis.oficial/
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; 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.