Stocks & Investing
Stocks and Investing
Stocks and Investing
Mon, March 5, 2012 
March 05, 2012 09:01 ET
CanAm Strengthens Executive Ranks
CALGARY, ALBERTA--(Marketwire - March 5, 2012) - CanAm Coal Corp. (TSX VENTURE:COE) (OTCQX:COECF) ("CanAm" or the "Company") is pleased to announce the appointment of Mr. Scott Bolton as the new Chief Financial Officer of the Company. Concurrently with this appointment, Mr. Jos De Smedt, the current CFO, will take on the role of President and Chief Operating Officer. Mr. Tim Bergen will continue in his role as Chief Executive Officer.
"Since late 2009, CanAm has repositioned itself as a coal producer and the Company has embarked on an aggressive growth strategy. With an estimated production target of 500,000 tons in 2012, the Company's ultimate goal is to become a 3 million ton per year producer through both organic growth and accretive acquisitions. In order to achieve this goal, we had to expand our management and executive capabilities with another senior and experienced individual who can add significant value and bring additional credibility to CanAm's impressive growth story", said Jonathan Legg, Chairman of the Board. "With his 25+ years of experience at PwC, there is no doubt that Scott will bring tremendous value to our Company. As to Jos, our new President and COO, he has, over the last couple of years, assumed a broader leadership role in the Company and was instrumental in the tactical execution of our strategy. We believe that his leadership and skill set will further enable CanAm to achieve its goal of becoming an intermediate coal producer."
Mr. Bolton is a Senior Partner with PricewaterhouseCoopers ("PwC"), based in Calgary. He leads PwC's Canadian energy practice, is the Partner responsible for the Calgary Consulting and Deals practice and is Chief Financial Officer of the overall Consulting and Deals practice for Canada. Scott is also a senior member of the PwC's global Energy, Utilities & Mining leadership team. As Energy Leader, Mr. Bolton is responsible for service delivery for a number of large international and Canadian energy companies. He brings considerable experience in a broad range of technical areas including business strategy, mergers and acquisitions, due diligence, valuations, integration, supply chain management, enterprise risk management, accounting and auditing. In the past decade he has worked on numerous transactions in all size ranges, primarily for energy sector clients. A Chartered Accountant by training, Mr. Bolton started with PwC in Edmonton and has worked in PwC's Brussels, Belgium, Toronto and Calgary offices. He has 26 years' experience with PwC including 15 years as a Partner.
Mr. Bolton will join CanAm in the next couple of months as he transitions his current responsibilities at PwC.
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources and resource-related technologies. CanAm's main activities and assets include its four operating coal mines in Alabama and the Buick Coal Project which holds significant coal resources, 188 million indicated and 103 million inferred resources, in Colorado, USA (see the technical report entitled "Limon Lignite Project, Elbert County, Colorado, USA," dated October 26, 2007 and filed on SEDAR on November 2, 2007). Other coal and related opportunities continue to be evaluated on an ongoing basis.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at [ www.sedar.com ]. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither the 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.
