Trading Symbol: NDX - TSX-V
VANCOUVER, Oct. 18, 2012 /CNW/ - Novadx Ventures Corp. ("Novadx" or the "Company") (TSX-V: NDX) is pleased to announce the appointment of Marc Solochek to the Company's Board of Directors.
Mr. Solochek brings over 30 years of experience in the coal industry to Novadx. Mr. Solochek currently serves as a financial consultant to the mining industry, advising companies such as Norwest Corporation, on a full range of the financial aspects of mining projects. From August 2006 to May 2011, Mr. Solochek was the CEO and CFO of Medical Information Systems Technology, LLC, and also served as a director of National Coal Corporation from April 2009 to December 2010. Prior to that, Mr. Solochek also served as the EVP and CFO of Vulcan Capital Management, LLC, a private equity firm, EVP and CFO of Triton Coal Company and as the Chairman of the Board of Managers of The Elk Horn Coal Company, LLC. He holds a bachelor's degree in business administration and accounting, and a juris doctorate from the University of Wisconsin.
Mr. Solochek has also served as a member of audit and compensation committees, and his knowledge and experience in the areas of treasury, tax, and risk management will be a great asset to the Company as he also assumes the role of Chair of the Company's audit committee.
Novadx's CEO, Daniel Roling noted, "I am extremely pleased to have Marc join the Novadx team. Marc's financial experience will be of great value as we work to complete our proposed capital restructuring, and his direct experience in the coal industry will be invaluable as we position the Company for meaningful growth."
About Novadx: Novadx Ventures Corp. is a Vancouver based mining investment company. Through its wholly owned subsidiary, Novadx's primary focus is to invest its capital to acquire and develop companies with active or near production high quality coal reserves in the US Appalachia coal region. Novadx intends to continue to grow the value of its coal investments through expanding production and reserves amongst its existing investments and by investing in additional acquisitions. Novadx is actively evaluating a number of high quality coal acquisition opportunities. For more information please visit www.novadx.com.
About MCoal: MCoal Corporation is a wholly-owned subsidiary of Novadx Ventures Corp. which operates the Rosa coal mine in Blount County, Alabama and is developing the Rex No.1 coal mine in Campbell County, Tennessee.
ON BEHALF OF THE BOARD
Daniel A. Roling
President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the qualification under the securities laws of such jurisdiction.
This release contains "forward-looking information" that includes information relating to future events and future financial and operating performance, including management's assessment of Novadx's and MCoal's future outlook. Specifically, this release contains forward-looking information related to future development of assets, mining operations, regulatory approvals and potential financings. Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements" for purposes of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. Forward-looking information should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking information is based on information available at the time it is made and/or management's good faith belief as of that time with respect to future events, and such information is subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking information. Important factors that could cause these differences include but are not limited to: the business of the Company may suffer as a result of uncertainty surrounding the coal market; the Company may be adversely affected by other economic, business, and/or competitive factors; the worldwide demand for coal; the price of coal; the price of alternative fuel sources; the supply of coal and other competitive factors; the costs to mine and transport coal; the ability to maintain existing mining leases and rights and the ability obtain new mining leases, rights and permits; governmental and regulatory approvals, the costs of reclamation of previously mined properties; the risks of expanding coal mining activities and production; the ability to bring new mines on line on schedule; industry competition; the Company's ability to continue to execute its growth strategies; the Company's ability to secure and complete additional financing; the Company's ability to complete planned acquisitions; and general economic conditions. You should not put undue reliance on any forward-looking information. We assume no obligation to update forward-looking information to reflect actual results, changes in assumptions or changes in other factors affecting forward looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking information, no inference should be drawn that we will make additional updates with respect to those or other forward-looking information. The company cautions readers that forward-looking statements, including without limitation those relating to the company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: Novadx Ventures Corp.
For further information:
about Novadx Ventures Corp. please contact:
Kin Communications Inc.
604 684 6730 | 1 866 684 6730
604 633-2776 ext 27