CALGARY, March 3, 2014 /CNW/ - EmberClear Corp. (TSXV: EMB) ("EMB" or
"EmberClear") today announced its unaudited financial results for the
three and six month periods ended December 31, 2013.
EMB's net loss for the six month period, including discontinued
operations, decreased 35% to $2,194,322 from a loss of $3,388,624 for
the same period in the prior year.
As of December 31, 2013 the cash position of the company was $174,848,
with negative working capital of $6,062,372 compared to a negative
working capital of $3,884,302 at June 30, 2013. In addition to cash on
hand, the Company has a remaining credit of $700,000 CDN under a bridge
loan. Under the lending arrangement, the lender reserves the right to
approve all future releases of funds.
EMB's financial statements, management's discussion and analysis, and
related information can be found on SEDAR at www.sedar.com.
About EmberClear Corp.
EmberClear is an energy developer focused on clean energy projects in
the United States. EmberClear develops facilities using natural gas as
input to create electricity or transportation fuels. We utilize our
expertise in permitting, site control and engineering feasibility to
develop projects that are offered to investors interested in
purchasing, constructing and/or operating such energy projects.
EmberClear's strategy focuses on favorably zoned locations
with accessible infrastructure and feedstock options. EmberClear also
holds surface and mineral rights in Schuylkill County, Pennsylvania.
This property lies in the Southern Anthracite coalfield of eastern
Pennsylvania, USA. Mineral rights held by the company include
Anthracite/PCI coal suitable for the steel making industry.
EmberClear's shares are listed on the TSX Venture Exchange under the
trading symbol "EMB". For more information, please visit www.emberclear.com
Certain statements contained in this document constitute forward-looking
statements or information (collectively "forward-looking statements")
within the meaning of the "safe harbour" provisions of applicable
securities legislation. Forward-looking statements are typically
identified by words such as "anticipate," "continue," "estimate,"
"expect," "forecast," "may," "will," "project," "could," "plan,"
"intend," "should," "believe," "outlook," "potential," "target,"
"seek," "budget," "predict," "might" and similar words suggesting
future events or future performance. All statements other than
statements of historical fact may be forward-looking statements. In
particular, this document contains forward-looking statements
pertaining to the adoption of advanced energy solutions and the global
demand for clean technology. With respect to forward-looking statements
contained in this document, we have made assumptions regarding the
demand and political support for clean energy technologies and the
existence of coal resources or reserves on EmberClear lands. Although
we believe that the expectations reflected in the forward-looking
statements contained in this document, and the assumptions on which
such forward-looking statements are made, are reasonable, there can be
no assurance that such expectations will prove to be correct. Readers
are cautioned not to place undue reliance on forward-looking statements
included in this document, as there can be no assurance that the plans,
intentions or expectations upon which the forward-looking statements
are based will occur.
By their nature, forward-looking statements involve numerous
assumptions, known and unknown risks and uncertainties that contribute
to the possibility that the predictions, forecasts, projections and
other forward-looking statements will not occur, which may cause our
actual performance and financial results in future periods to differ
materially from any estimates or projections of future performance or
results expressed or implied by such forward-looking statements. The
forward-looking statements contained in this document speak only as of
the date of this document. Except as expressly required by applicable
securities laws, we do not undertake any obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking statements
contained in this document are expressly qualified by this cautionary
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: EmberClear Corp.
For further information:
David G. Anderson
+1 (403) 264-8817