Novadx Ventures Corp.

Novadx Ventures Corp.

October 05, 2011 09:00 ET

Novadx Announces Two New Senior Management Appointments at MCoal

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2011) - Novadx Ventures Corp. (TSX VENTURE:NDX) -


Novadx Ventures Corp., President & CEO, Neil MacDonald, reports:

Novadx Ventures Corp. ("Novadx" or the "Company") announces that that its wholly-owned subsidiary MCoal Corporation ("MCoal") has appointed Mr. John Pyles to the position of Safety Manager and Mr. Jarrod Gabbard to the position of Manager of Coal Sales and Logistics.

Mr. John Pyles brings to MCoal 37 years experience working for the United States Department of Labor, Mine Safety and Health Administration Division ("MSHA"), including over 27 years as a senior supervisor / manager in various Appalachian regions. Having held senior roles in both the Technical and Inspection divisions, which included all aspects of ventilation, health, electrical education, highwall and safety inspections at approximately 80 underground and 95 surface mines, Mr. Pyles' experience will be valuable to ensuring employees a safe working environment.

Mr. Gabbard is joining MCoal from US Coal Corporation where he held the position of Manager of Southeastern Sales and Logistics, overseeing sales, marketing and rail, truck and barge transportation logistics for the company's specialty/stoker coal and utility coal products. Mr. Gabbard has been a director of the Kentucky Coal Association since 2008 and was recently appointed to the Association's Executive Board. He is also a director of the Lexington Coal Exchange, member of the North Carolina Coal Institute and charter member of the Central Appalachian Stakeholders Campaign.

Neil MacDonald, President and CEO of Novadx and President of MCoal commented, "We are very fortunate that these two experienced managers have agreed to join our team at MCoal. Mr. Pyles' experience while at MSHA will serve to ensure the safety of our employees as we continue our underground development and commence mining operations at the Rex mine. He will also oversee our safety programs and procedures at the Rosa Mine. Mr. Gabbard's appointment marks a turning point in our Company as our production increases over the next few months at the Rosa and Rex mines. Mr. Gabbard's experience in marketing coal will serve to ensure that we are able to maximize the revenue from our coal marketing activities."

Subject to the approval of the TSX Venture Exchange (the "Exchange"), Mr. Gabbard will receive 65,934 shares of Novadx at a deemed price of $0.455 as a signing bonus. These shares will be subject to a hold period of 4 months and a day from the date of their issuance at which time 10% of the shares will become free trading and thereafter 15% of the shares will become free trading at the end of each 3 month period.

Novadx also announces that Mr. Dennis Molnar has resigned as a director of the Company, to pursue other commitments. The Company would like to thank Mr. Molnar for his contributions as a director.

About Novadx: Novadx Ventures Corp. is a Vancouver based mining investment Company. Through its wholly owned subsidiary, Novadx's primary focus is to invest its capital to acquire and develop companies with active or near production high quality coal reserves in the US Appalachia coal region. Novadx intends to continue to grow the value of its coal investments through expanding production and reserves amongst its existing investments and by investing in additional acquisitions. Novadx is actively evaluating a number of high quality coal acquisition opportunities. For more information please visit

About MCoal: MCoal Corporation is a wholly-owned subsidiary of Novadx Ventures Corp. which operates the Rosa coal mine in Blount County, Alabama and is developing the Rex No.1 coal mine in Campbell County, Tennessee.


Neil MacDonald, President and CEO and Director

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.

This release contains "forward-looking information" that includes information relating to future events and future financial and operating performance, including management's assessment of Novadx's and MCoal's future outlook, potential financings, potential acquisitions and production. Specifically, this release contains forward-looking information related to increases in production capacity as the results of additional capital expenditures and permitted mines, additional reserves that have been leased or acquired, future development of reserves or properties, potential financings and potential acquisitions. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions.

Forward-looking information should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking information is based on information available at the time it is made and/or management's good faith belief as of that time with respect to future events, and such information is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking information. Important factors that could cause these differences include but are not limited to: pricing and assumptions and projections concerning reserves and/ or resources in our mining operations; changes in contracted sales, the business of the Company may suffer as a result of uncertainty surrounding the coal market; the Company may be adversely affected by other economic, business, and/or competitive factors; the worldwide demand for coal; the price of coal; the price of alternative fuel sources; the supply of coal and other competitive factors; the costs to mine and transport coal; the ability to obtain new mining permits; the costs of reclamation of previously mined properties; the risks of expanding coal production; the ability to bring new mines on line on schedule; industry competition; the Company's ability to continue to execute its growth strategies; the Company's ability to secure additional financing; the Company's ability to complete planned acquisitions; and general economic conditions. These and other risks are more fully described in the Company's public filings with the Canadian Securities Administrators, available on SEDAR at You should not put undue reliance on any forward-looking information. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking information, no inference should be drawn that we will make additional updates with respect to those or other forward-looking information. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.

Neither 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. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

Contact Information