VANCOUVER, Nov. 19, 2019 /CNW/ - Colonial Coal International Corp. (TSX-V: CAD) (the "Company" or "Colonial Coal"). David Austin, Colonial Coal's Chairman, is pleased to announce that Partha S. Bhattacharyya has kindly consented to be appointed to the Company's Board of Directors.
Mr. Bhattacharyya is the former Chairman and Managing Director of Coal India Limited, a coal-producing company headquartered in Kolkata, West Bengal, India. Mr. Bhattacharyya holds a post graduate degree in physics from Jadavpur University, Kolkata, and a diploma in finance from ICFAI University, Hyderabad. Mr. Bhattacharyya is also a Fellow of the Institute of Cost and Works Accountants of India and the World Academy of Productivity Science. Mr. Bhattacharyya joined Coal India as a management trainee in 1977. Prior to joining our Coal India, Mr. Bhattacharyya was the Chairman and Managing Director of BCCL, where he played a crucial role in the turnaround of the company, which had been reporting losses since its inception.
Mr. Austin stated: "We are very excited and extremely honoured to have Partha join our Board of Directors. I am very pleased that Partha has agreed to work with Company management and provide Colonial Coal with very sound and expert advice as the Company considers its various business development options going forward. We are very excited by what the future holds for our company and its shareholders and having Partha work with us now is a further testament to the value of our various business interests."
With Mr. Bhattacharyya's appointment, the Company also announces that Wayne Waters, a longstanding member of the Company's Board of Directors, has resigned for personal health reasons.Mr. Austin stated: "We are extremely proud of and sincerely appreciate the many good things and advice that Wayne has brought to our Company over the many years. We wish Wayne and his family the very best.".
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About Colonial Coal International Corp.
Colonial Coal is a publicly traded coal corporation in British Columbia that focuses primarily on coking coal projects. The northeast Coal Block of British Columbia, within which our Corporation's projects are located, hosts a number of proven deposits and has been the subject of M&A activities by Anglo-American and others. Additional information can be found on the Company's website www.ccoal.ca or by viewing the Company's filings at www.sedar.com.
Information set forth in this news release may involve forward-looking statements. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address a company's expected future business and financial performance, and often contain words such as "anticipate", "believe", "plan", "estimate", "expect", and "intend", statements that an action or event "may", "might", "could", "should", or "will" be taken or occur, or other similar expressions. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: risks associated with marketing and sale of securities; the need for additional financing; reliance on key personnel; the potential for conflicts of interest among certain officers or directors with certain other projects; and the volatility of common share price and volume. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date that statements are made and except as required by law, the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Investors are cautioned against attributing undue certainty to forward-looking statements.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTS THE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE SECURITIES LEGISLATION.
SOURCE Colonial Coal International Corp.
For further information: Colonial Coal International Corp., Shane Austin, 604.568.4962, [email protected], www.ccoal.ca