Trading Symbol: NDX - TSX-V
VANCOUVER,
Oct. 18, 2012 /CNW/ - Novadx Ventures
Corp. ("Novadx" or the "Company") (TSX-V: NDX) is pleased to
announce the appointment of Marc
Solochek to the Company's Board of Directors.
Mr. Solochek brings over 30 years of experience
in the coal industry to Novadx. Mr. Solochek currently serves
as a financial consultant to the mining industry, advising
companies such as Norwest Corporation, on a full range of the
financial aspects of mining projects. From August 2006 to May
2011, Mr. Solochek was the CEO and CFO of Medical
Information Systems Technology, LLC, and also served as a director
of National Coal Corporation from April
2009 to December 2010.
Prior to that, Mr. Solochek also served as the EVP and CFO of
Vulcan Capital Management, LLC, a private equity firm, EVP and CFO
of Triton Coal Company and as the Chairman of the Board of Managers
of The Elk Horn Coal Company, LLC. He holds a bachelor's degree in
business administration and accounting, and a juris doctorate from
the University of Wisconsin.
Mr. Solochek has also served as a member of
audit and compensation committees, and his knowledge and experience
in the areas of treasury, tax, and risk management will be a great
asset to the Company as he also assumes the role of Chair of the
Company's audit committee.
Novadx's CEO, Daniel
Roling noted, "I am extremely pleased to have Marc join the
Novadx team. Marc's financial experience will be of great
value as we work to complete our proposed capital restructuring,
and his direct experience in the coal industry will be invaluable
as we position the Company for meaningful growth."
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 #1 coal mine in Campbell County,
Tennessee.
ON BEHALF OF THE BOARD
Daniel A. Roling
President, CEO and Director
Neither 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 The TSX Venture Exchange
has in no way passed upon the merits of the proposed transaction
and has neither approved nor disapproved the contents of this press
release. 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.
Specifically, this release contains forward-looking information
related to future development of assets, mining operations,
regulatory approvals and potential financings. 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: 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 maintain existing
mining leases and rights and the ability obtain new mining leases,
rights and permits; governmental and regulatory approvals, the
costs of reclamation of previously mined properties; the risks of
expanding coal mining activities and 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 and complete additional financing; the
Company's ability to complete planned acquisitions; and general
economic conditions. 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.
SOURCE Novadx Ventures Corp.