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Xinergy announces filing of unaudited financial statements for the quarter ended March 31, 2010

^{Published on 2010-05-17 17:00:24 - Market Wire}
 

KNOXVILLE, TN, May 17 /CNW/ - Xinergy Ltd. (TSX: XRG) ("Xinergy" or "the Company") announced today the release of its unaudited interim consolidated financial statements for the three-month period ended March 31, 2010, together with its Management's Discussion and Analysis for the corresponding period. These documents are posted on SEDAR at [ www.sedar.com ].

Xinergy is currently focused on increasing shareholder value through strategic growth opportunities. The Company continues to develop its existing properties that will expand its permitted reserve base to increase capacity.

About Xinergy Ltd.

Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly owned subsidiary, Xinergy Corp. is engaged in coal mining in Eastern Kentucky. The Company controls mining properties in Kentucky and Alabama. Currently, Xinergy sells steam coal to electric utilities and industrial companies throughout the southeastern United States. For more information, please visit [ www.xinergycorp.com ].

Information about Forward-looking information

This release contains "forward-looking information" that includes information relating to future events and future financial and operating performance. 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(a number of the first items are no longer relevant now that this has closed(:; the business of the Company may suffer as a result of uncertainty surrounding the acquired assets; 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 obtain new mining permits; the costs of reclamation of previously mined properties; the risks of expanding coal production; the ability to bring new mines on line on schedule; industry competition; the Company's ability to continue to execute its growth strategies; and general economic conditions. These and other risks are more fully described in the Company's filings with the Canadian Securities Administrators. 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.

Neither TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accepts responsibility for the adequacy or accuracy of this news release.

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