Calgary, AB - February 3, 2014 - CanAm Coal Corp. (TSXV: COE), (OTCQX: COECF) ("CanAm" or the "Company") is pleased to report full year 2013 coal sales of 682,000 tons. This compares to sales of 560,000 tons in the prior year, an increase of 122,000 tons or 22%. This increase is a result of the strength of our long term customer base and the addition of new contracts that the Company obtained in 2013.
------------------------- |Quarter|Year Ended | |-----------------------| | |2013 |2012 | |-----------------------| | | | | |-----------------------| |Q1 |149,453|117,192| |-----------------------| |Q2 |168,488|130,517| |-----------------------| |Q3 |195,750|157,900| |-----------------------| |Q4 |168,000|153,841| |-----------------------| | | | | |-----------------------| |Total |681,691|559,450| -------------------------
Company President and CEO, Jos De Smedt commented: "We are extremely pleased at our ability to grow sales by 22 percent in a very difficult environment for coal producers around the world. We attribute our record success to three important variables, the high quality of our coal, the expansion and loyalty of our great customers, and the dedication of our entire Team. This record growth includes a Q4 that was only up 10% year over year largely due to extended plant maintenance and year-end inventory management with a few of our key customers.
As we enter 2014 we feel very confident that our pattern of record sales and double digit growth will continue into 2014 and beyond. Recent record cold temperatures in our sales market, and pending EPA changes affecting the US power sector bode well for future demand for Canam's high quality coal."
About CanAm Coal Corp.
CanAm is a coal producer and development company focused on growth through the acquisition, exploration and development of coal resources. CanAm's main activities and assets include its 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.
For Further Information:
CanAm Corporate Office:
Jos De Smedt, President & CEO
Tel: 403.262.3797
Toll Free: 1.877.262.5888
Email: [email protected]
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.
Forward-Looking Information and Statements
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.