TORONTO, April 2, 2012 /CNW/ - Pacific Coal Resources Ltd. (TSXV: PAK) announced today that Giovanni Pizarro, the Company's Chief Operating Officer, has resigned from the Company to pursue other personal business interests.
Luis Carvajales, Chief Executive Officer of Pacific Coal said, "On behalf of the Company, I would like to extend our thanks to Giovanni Pizarro for his efforts to advance the Company's assets and wish him all the best in his future endeavours. We are excited by the progress we have made on our production and exploration assets in Colombia and look forward to updating our shareholders."
The function of Chief Operating Officer will be performed by Luis Carvajales, while the Company completes its search for a permanent replacement. Due to the Company's breadth of operations and the diverse technical expertise required, the Company is considering supporting the position of Chief Operating Officer by redistributing some of the roles amongst the Company's current management team, who will oversee different operational areas of the Company.
About Pacific Coal Resources Ltd.
Pacific Coal Resources Ltd. is a Canadian-based mining company focused on coal, coking coal, asphalt and asphaltite exploration, development and production from prospective producing, development-stage and exploration-stage properties in Colombia. The Company has acquired or entered into agreements to acquire various interests in several operating coal mines and projects, representing a substantive coal and asphaltite exploration and production area throughout Colombia. Pacific Coal is committed to implementing its exploration and development strategy with a comprehensive environment, safety and community program, meeting international standards of best practice.
Forward Looking Information:
This news release contains "forward-looking information", which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Pacific Coal to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and Pacific Coal disclaim, other than as required by law, any obligation to update any forward-looking statements whether as a result of new information, results, future events, circumstances, or if management's estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
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 news release.
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