EastCoal Inc. Adds Another Non-Executive Director to the Board
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 24, 2012) - EastCoal Inc. (TSX VENTURE:ECX) (the "Company" or "EastCoal") is pleased to announce the appointment of Frank Moxon as a non-executive director.
Frank Moxon is an experienced corporate financier specializing in natural resources. He was previously head of corporate finance and head of natural resources at Wiliams de Broe at the time it was acquired by Evolution Securities. He was, until August 2012, senior independent non-executive Director of Cove Energy plc (AIM quoted) and holds a number of non-executive directorships, including Silvermere Energy plc (AIM-quoted), Whetstone Minerals Ltd. (TSX-V quoted) and Imperial Minerals plc (Plus quoted). He is a fellow of the Institute of Materials, Minerals and Mining.
The Chairman of EastCoal, Mr. John Byrne, commented:
"We are very pleased to have Frank join our board, as he brings a wealth of experience in the UK markets and help us balance our board between executive and non-executive directors."
By Order of the Board,
John Byrne, Chairman
About EastCoal Inc.
EastCoal Inc. is currently producing coking coal from its 100% owned Menzhinsky mine and developing its 100% owned Verticalnaya anthracite mine.
This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking information. These and all subsequent written and oral forward-looking information are based on estimates and opinions on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, EastCoal assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change. Completion of the transaction described herein will be subject to numerous conditions, including the negotiation and execution of definitive agreements. There can be no assurance that the transaction will be completed as proposed or at all.
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