| ||February 23, 2011|
CanAm Adds New Board Member
| ||Calgary, AB, February 23, 2011 - CanAm Coal Corp. (TSXV: COE) ("CanAm" or the "Company") is pleased to announce the appointment of Tim Nakaska to the Board of Directors effective May 1, 2011. Mr. Nakaska will also take on the role of Chairman of the Audit Committee.|
Jonathan Legg, Chairman, of the Board of CanAm announced today "...we will continue to deliver on our commitment to grow the Company organically and through acquisition. Integrated into our strategy is a value creation discipline; accordingly, we continue to strengthen our Board. We are delighted to announce that Tim Nakaska will be joining our Board effective May 1st, 2011. Tim will enhance the Board's competency profile in Finance, and he will Chair the Audit Committee. Tim's complementary experience in risk and value assessment together with deal structuring will also be invaluable as we aggressively grow through acquisitions."
Mr. Nakaska is a Partner and a Senior Vice President of PricewaterhouseCoopers, a major international and world class accounting and consulting firm where he currently leads the firm's Corporate Advisory and Restructuring practice in Calgary. Mr. Nakaska, a Chartered Accountant, holds various restructuring designations and is a member of the Institute of Corporate Directors. He has over 25 years of measurable success providing advice and carrying out formal and informal financial restructurings and sale mandates for corporations, financial institutions and governments. In addition to restructuring assignments, Mr. Nakaska has conducted numerous strategy and risk assessments, business and financial reviews and due diligence assignments. He has deep experience in the energy, resource, manufacturing and real estate sectors. His industry experience associated with mining includes underground and surface coal mines, surface oil sands and limestone assignments. He has a proven track record of leading successful negotiations with local and international counterparties.
Jonathan Legg added "...with the addition of Mr. Nakaska effective May 1, 2011 and Mr. Power on November 23, 2010, we have made significant steps in complimenting our Board with additional bench strength and we will continue to look for complimentary competencies and skills to deliver on the execution of our strategy of building a high growth coal producer and coal development company."
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 Alabama coal mine operations, the exclusive rights to a proprietary Coal to Liquids technology which converts coal into liquid fuels (such as oil, jet fuel) at an economical cost with zero airborne emissions 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:
Linden Swensen, President
Toll Free: 1.877.262.5888
Brisco Capital Partners:
Scott Koyich, Partner
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.
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.
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