SOURCE: New Colombia Resources

New Colombia Resources

April 08, 2015 08:30 ET

New Colombia Resources' Sannabis Announces Plan to Produce Hemp Biomass in Colombia

CALI, COLOMBIA--(Marketwired - Apr 8, 2015) - New Colombia Resources, Inc. (OTCQB: NEWC) ("New Colombia or the 'Company"), a U.S. company with coal and other resource assets in Colombia, is pleased to announce plans for a hemp biomass program as they ramp up their coal and rock mining operations.

New Colombia's subsidiary, Sannabis SAS, has legally been producing cannabis based medicines on autonomous Indian Nations in Colombia for over two years. Sannabis sells direct to patients and foundations as they set up distribution channels. They enjoy first mover advantage in Colombia.

Sannabis met with politicians of several municipalities in the Norte del Cauca Department of Colombia to implement a hemp program to produce cellulosic feedstock for biofuels. The Department is known for growing high grade cannabis; its climatic conditions are ideal for growing 365 days a year with natural soil and sunlight.

Additionally, New Colombia Resources has vast coal and mineral resources on their wholly owned property in Guaduas, Colombia. The company owns the land and mining title for coal and other grantable minerals. Their "in situ" coal reserves were valued at $49 MM in 2011. A work programme (PTO) was approved by the National Mining Agency (ANM) in December 2013 for concession contract ILE-09551; they are awaiting approval of an environmental permit to begin operating a 1000 cubic meter/day rock crushing plant to process aggregates for building materials. Works requested by the environmental agency in a January 2015 technical evaluation have been completed. In 2014 Colombia's GDP rose 4.6% with a 10% increase in construction while mining activity remained flat.

New Colombia Resources sees value in industrial hemp for biomass blending with bituminous coal for power generation as well as feedstock for biofuel. Colombia is expected to increase its biofuel mandate increasing demand for feedstock.

Sannabis will plant high grade hemp fields to replace sugar cane which is currently being grown to produce biomass. "Sugar cane crops have damaged the soil and we believe hemp will revitalize the land while creating a sustainable new industry for Colombia," commented Juan Pablo Guzman, President of Sannabis SAS.

Sannabis has several major projects with governmental and NGO support they plan to roll out this year. New Colombia's medical marijuana initiative has been featured in several media outlets in Colombia.

http://www.dinero.com/edicion-impresa/negocios/articulo/medicamentos-legales-derivados-del-cannabis-marihuana/199474.

To view or purchase Sannabis products in Colombia visit www.sannabis.co. Follow Sannabis on Facebook at https://www.facebook.com/sannabis.cannamedicinal

For more information on New Colombia Resources visit www.newcolombiaresources.com.

New Colombia Resources, Inc.

New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining and rock quarry aggregates for domestic Colombian highway and railroad building projects. The Company owns 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15-17 million tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. 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.

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