SOURCE: Xinergy Corp.

January 15, 2016 18:15 ET

Xinergy Ltd. Announces Proposed Board of Directors and Officers for Reorganized Company

KNOXVILLE, TN--(Marketwired - January 15, 2016) - Xinergy Ltd. ("Xinergy" or the "Company"), a U.S. producer of metallurgical and thermal coal, has announced the new members of the Board of Directors and executive officers to be appointed upon the Company's anticipated emergence from Chapter 11 bankruptcy in early February 2016. 

Jeffrey A. Wilson will serve as President and CEO of the reorganized Company. Jeff has recently served as Sr. Vice President-Operations for the company and was formerly Interim President of the J.W. Resources companies based in Knoxville, TN. Jeff spent almost 20 years with A.T. Massey Coal Company and 5 years with James River Coal Company in various roles in production, engineering, sales, and operations management. Since 2005, he has also been owner and manager of Wilson Energy Advisors, LLC, a consultancy specializing in management, property evaluations, and financial analyses related to the mining industry. Jeff holds a B.S. in Mining Engineering from West Virginia University and an MBA from Marshall University. He is a Registered Professional Engineer, a Registered Member of SME-AIME and serves on the Visiting Committee for the WVU Department of Mining Engineering.

Michael R. Castle will continue to serve as Chief Financial Officer of the reorganized Company. Mike has served as the Company's CFO since January 2010 and has more than 24 years' experience in the coal industry, over 15 of which has been serving as CFO.

The new members of the Board of Directors will include Mr. Wilson, Matthew Cantor, formerly a partner with the law firm of Kirkland & Ellis and founding principal of Normandy Hill Capital, Jacob Mercer, a Senior Portfolio Manager with Whitebox Advisors, LLC, Jeffrey Buller, a Managing Director with Spectrum Group Management LLC, and an independent director to be named at a later date.

Upon the effective date of the restructuring, a new holding company, White Forest Resources, Inc., will be formed to hold the equity interests of Xinergy.

About Xinergy Ltd.

Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in West Virginia and Virginia. Xinergy sells high quality thermal and metallurgical coal to electric utilities, steelmakers, energy trading firms and industrial companies. For more information, please visit www.xinergycorp.com.

Forward-Looking Statements

This press release contains "forward-looking statements." Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on the Company's current plans, expectations, estimates, and projections and actual results or outcomes could vary significant from those expressed or implied in such statements and are subject to a number of risks and uncertainties. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements.

Contact Information

  • Mike Castle
    606.424.7410