VANCOUVER, Sept. 26, 2011 /CNW/ - NEMI Northern Energy and Mining Inc. [TSX: NNE.A] (the "Company") announces that the proposed sale (the "Asset Sale") of all of the Company's interest in the Peace River Coal Limited
Partnership to Anglo American Coal Canada Limited for a cash purchase
price of C$73 million, previously announced on August 17, 2011, was
approved at today's Extraordinary General Meeting by shareholders
holding an aggregate of 40,118,730 Class "A" common shares,
representing approximately 73% of the Company's issued and outstanding
The Company currently anticipates closing the Asset Sale on Thursday,
September 29, 2011.
This news release includes forward-looking statements that are subject
to risks and uncertainties. All statements within, other than
statements of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such
statements are not guarantees of future performance and actual results
or developments may differ materially from those in forward-looking
statements. Factors that could cause actual results to differ
materially from those in forward-looking statements include market
prices, continued availability of capital and financing, and general
economic, market or business conditions. There can be no assurances
that such statements will prove accurate and, therefore, readers are
advised to rely on their own evaluation of such uncertainties. We do
not assume any obligation to update any forward-looking statements.
SOURCE NEMI Northern Energy
For further information:
NEMI Northern Energy & Mining Inc.
(T) (415) 339-8825