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 statement.
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