XINERGY LTD. ANNOUNCES THE APPOINTMENT OF NEW VICE PRESIDENT OF SURFACE
MINING
KNOXVILLE, TN, Sept. 16 /CNW/ - Xinergy Ltd. ("Xinergy" or "the Company") is pleased to announce the appointment of William R. (Bill) Snodgrass as Vice President of Surface Mining, effective immediately.
Mr. Snodgrass brings over 20 years of experience in the coal industry and has been involved in many mining projects in the Kentucky and Tennessee areas. He has held senior operating positions with Addington Enterprises, Inc. and National Coal Corporation. Prior to joining Xinergy, he served as Chief Operating Officer with National Coal Corporation.
Mr. Jon Nix, Chief Executive Officer of Xinergy, commented, "We are very lucky to have Bill join us. He has the operational and business expertise that will help drive the execution of our organic growth strategy. While reporting directly to our President, Bernie Mason, Bill's focus will be on improving productivity and further reducing operating costs at our five active surface mines at Straight Creek and Raven Crest."
About Xinergy Ltd.
Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly owned subsidiary, Xinergy Corp. is engaged in coal mining in eastern Kentucky and West Virginia. Currently, Xinergy sells high quality 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, including management's assessment of Xinergy's future outlook. 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: 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, including its Annual Information Form, 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.
%SEDAR: 00021880E
For further information: Miranda Smith, 647-427-0208
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