CALGARY, ALBERTA--(Marketwired - April 15, 2014) -
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Pro-Trans Ventures Inc. (the "Company") (TSX VENTURE:PVI) announces that Walter Energy, Inc. ("Walter"), the largest customer of the Company's wholly owned subsidiary, Maple Leaf Loading Ltd., has issued a press release today indicating that it will begin idling its Canadian operations in April 2014.
Subsequent to Walter's announcement, management of the Company has had an initial discussion with executives of Walter and have been advised that based on existing coal stockpiles and forecast production at the Brule mine through to the middle of July 2014, it is anticipated that there will be sufficient coal for Maple Leaf to haul through the fourth quarter of this year. At or around that time, Walter has advised that it will make a decision regarding the future operation of the mine.
Management intends to have follow-up discussions with Walter in the coming weeks and will issue further updates as news becomes available.
Pro-Trans is a Calgary based public company listed on the TSX Venture Exchange. The Company is actively involved in specialized transportation and logistics services within Western Canada, through its wholly owned subsidiary, Maple Leaf Loading Ltd. ("Maple Leaf"), based in Prince George, BC. Maple Leaf, a mining support company, offers specialized transportation services related to the management, handling, and transportation of coal and ore concentrates for customers in the mining industry in BC, Alberta, and the Yukon.
This press release contains certain statements or disclosures relating to Pro-Trans that are based on the expectations of Pro-Trans as well as assumptions made by and information currently available to Pro-Trans which may constitute forward-looking information under applicable securities laws. In particular, this press release contains forward-looking information related to the timing of the idling of Walter's Canadian operations, the amount of coal that will be available to haul, and the future of the Brule mine. Such forward looking information involves material assumptions and known and unknown risks and uncertainties, certain of which are beyond Pro-Trans' control. Many factors could cause the performance or achievement by Pro-Trans to be materially different from any future results, performance or achievements that may be expressed or implied by such forward looking information including, but not limited to Walter's timing with respect to idling the Brule mine, Walter's financial and operational results, environmental factors, and commodity prices. Pro-Trans' Annual Information Form, Management's Discussion and Analysis and other documents filed with securities regulatory authorities (accessible through the SEDAR website at www.sedar.com) describe certain risks, material assumptions and other factors that could influence actual results. Pro-Trans disclaims any intention or obligation to publicly update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as may be expressly required by applicable securities laws.
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.