ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for monitor Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.

NDX

0.00
0.00 (0.00%)
Last Updated: -
Delayed by 15 minutes
Share Name Share Symbol Market Type
TSXV:NDX TSX Venture Common Stock
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 0 -

Novadx Announces Two New Senior Management Appointments at MCoal

05/10/2011 2:00pm

Marketwired Canada


Novadx Ventures Corp. (TSX VENTURE:NDX) - 

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED
STATES 


Novadx Ventures Corp., President & CEO, Neil MacDonald, reports: 

Novadx Ventures Corp. ("Novadx" or the "Company") announces that that its
wholly-owned subsidiary MCoal Corporation ("MCoal") has appointed Mr. John Pyles
to the position of Safety Manager and Mr. Jarrod Gabbard to the position of
Manager of Coal Sales and Logistics.


Mr. John Pyles brings to MCoal 37 years experience working for the United States
Department of Labor, Mine Safety and Health Administration Division ("MSHA"),
including over 27 years as a senior supervisor / manager in various Appalachian
regions. Having held senior roles in both the Technical and Inspection
divisions, which included all aspects of ventilation, health, electrical
education, highwall and safety inspections at approximately 80 underground and
95 surface mines, Mr. Pyles' experience will be valuable to ensuring employees a
safe working environment.


Mr. Gabbard is joining MCoal from US Coal Corporation where he held the position
of Manager of Southeastern Sales and Logistics, overseeing sales, marketing and
rail, truck and barge transportation logistics for the company's
specialty/stoker coal and utility coal products. Mr. Gabbard has been a director
of the Kentucky Coal Association since 2008 and was recently appointed to the
Association's Executive Board. He is also a director of the Lexington Coal
Exchange, member of the North Carolina Coal Institute and charter member of the
Central Appalachian Stakeholders Campaign.


Neil MacDonald, President and CEO of Novadx and President of MCoal commented,
"We are very fortunate that these two experienced managers have agreed to join
our team at MCoal. Mr. Pyles' experience while at MSHA will serve to ensure the
safety of our employees as we continue our underground development and commence
mining operations at the Rex mine. He will also oversee our safety programs and
procedures at the Rosa Mine. Mr. Gabbard's appointment marks a turning point in
our Company as our production increases over the next few months at the Rosa and
Rex mines. Mr. Gabbard's experience in marketing coal will serve to ensure that
we are able to maximize the revenue from our coal marketing activities." 


Subject to the approval of the TSX Venture Exchange (the "Exchange"), Mr.
Gabbard will receive 65,934 shares of Novadx at a deemed price of $0.455 as a
signing bonus. These shares will be subject to a hold period of 4 months and a
day from the date of their issuance at which time 10% of the shares will become
free trading and thereafter 15% of the shares will become free trading at the
end of each 3 month period.


Novadx also announces that Mr. Dennis Molnar has resigned as a director of the
Company, to pursue other commitments. The Company would like to thank Mr. Molnar
for his contributions as a director.


About Novadx: Novadx Ventures Corp. is a Vancouver based mining investment
Company. Through its wholly owned subsidiary, Novadx's primary focus is to
invest its capital to acquire and develop companies with active or near
production high quality coal reserves in the US Appalachia coal region. Novadx
intends to continue to grow the value of its coal investments through expanding
production and reserves amongst its existing investments and by investing in
additional acquisitions. Novadx is actively evaluating a number of high quality
coal acquisition opportunities. For more information please visit
www.novadx.com.


About MCoal: MCoal Corporation is a wholly-owned subsidiary of Novadx Ventures
Corp. which operates the Rosa coal mine in Blount County, Alabama and is
developing the Rex No.1 coal mine in Campbell County, Tennessee.


ON BEHALF OF THE BOARD

Neil MacDonald, President and CEO and Director

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to the qualification under the securities laws of such jurisdiction.


This release contains "forward-looking information" that includes information
relating to future events and future financial and operating performance,
including management's assessment of Novadx's and MCoal's future outlook,
potential financings, potential acquisitions and production. Specifically, this
release contains forward-looking information related to increases in production
capacity as the results of additional capital expenditures and permitted mines,
additional reserves that have been leased or acquired, future development of
reserves or properties, potential financings and potential acquisitions.
Statements included in this announcement, including statements concerning our
plans, intentions and expectations, which are not historical in nature are
intended to be, and are hereby identified as, "forward-looking statements" for
purposes of the safe harbor provided by Section 21E of the Securities Exchange
Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words including "anticipates",
"believes", "intends", "estimates", "expects" and similar expressions. 


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: pricing and
assumptions and projections concerning reserves and/ or resources in our mining
operations; changes in contracted sales, the business of the Company may suffer
as a result of uncertainty surrounding the coal market; 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;
the Company's ability to secure additional financing; the Company's ability to
complete planned acquisitions; and general economic conditions. These and other
risks are more fully described in the Company's public filings with the Canadian
Securities Administrators, available on SEDAR at www.sedar.com. 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. The company cautions readers that forward-looking statements,
including without limitation those relating to the company's future operations
and business prospects, are subject to certain risks and uncertainties that
could cause actual results to differ materially from those indicated in the
forward-looking statements.


1 Year Chart

1 Year  Chart

1 Month Chart

1 Month  Chart