CALGARY, AB--(Marketwire - Oct 22, 2012) -
Calgary, AB - October 22, 2012 - CanAm Coal Corp. (TSXV: COE), (OTCQX: COECF)
("CanAm" or the "Company") announces a realignment of executive roles at
corporate office. After serving six years as the Company's Chief
Officer, Tim Bergen has made a personal decision to step away from day to
Company operations in order to focus solely on business development
As a result, Tim will step down as Company CEO and assume the title of
Chairman of the board responsible for business development. Tim's mandate
be to develop the Company's 1 to 3 year expansion plan including
evaluating high value development projects and opportunities to develop a
seaborne market for the Company's coal reserves. Jos De Smedt, CanAm's
President and Chief Operating Officer will assume Tim's day to day
responsibilities. Commenting on the role change, CanAm's Chairman Jon Legg
noted, "Under Tim Bergen's leadership, CanAm successfully transitioned from
development company to a full production company, which has delivered
exponential growth highlighted by the acquisition of an 80% interest in
Birmingham Coal & Coke. With this acquisition completed, the Company is
focused on operational execution and delivering strong financial results.
Calgary and Alabama based management team led by Jos De Smedt has the
and experience to deliver on this mandate and Bob and Tom Lewis will be
responsible for day to day management at all of our mines. As a result,
determined that he can best serve the Company by focusing on development of
future growth opportunities. Tim will continue to be a key member of the
of directors going forward". The role change is effective immediately.
The Company is also announcing that, effective immediately, Jos De Smedt
been appointed to the Board of Directors.
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on growth through
acquisition, exploration and development of coal resources and resource-
technologies. CanAm's main activities and assets include its four operating
mines in Alabama and the Buick Coal Project which holds significant coal
resources, 188 million indicated and 103 million inferred resources, in
Colorado, USA (see the technical report entitled "Limon Lignite Project,
County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on
2, 2007). Other coal and related opportunities continue to be evaluated on
Neither the TSX Venture Exchange nor its Regulation Services Provider (as
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Forward Looking Information and Statements
This news release may contain certain forward-looking information. All
statements included herein, other than statements of historical fact, is
forward-looking information and such information involves various risks and
uncertainties. There can be no assurance that such information will prove
accurate, and actual results and future events could differ materially from
those anticipated in such information. A description of assumptions used
develop such forward-looking information and a description of risk factors
may cause actual results to differ materially from forward-looking
can be found in the Company's disclosure documents on the SEDAR website at
www.sedar.com. The Company does not undertake to update any forward-
information except in accordance with applicable securities laws.
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Source: CanAm Coal Corp. via Thomson Reuters ONE