NEMI Shareholder Approve Sale of Interest in Peace River Coal Limited Partnership
VANCOUVER, Sept. 26, 2011 /CNW/ - NEMI Northern Energy and Mining Inc.[TSX: NNE.A] (the 'Company') announces that the proposed sale (the 'Asset Sale') of all of the Company's interest in the Peace River Coal Limited Partnership to Anglo American Coal Canada Limited for a cash purchase price of C$73 million, previously announced on August 17, 2011, was approved at today's Extraordinary General Meeting by shareholders holding an aggregate of 40,118,730 Class 'A' common shares, representing approximately 73% of the Company's issued and outstanding common shares.
The Company currently anticipates closing the Asset Sale on Thursday, September 29, 2011.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
NEMI Northern Energy & Mining Inc.
CONTACT: Michael Cooney
Chairman
NEMI Northern Energy & Mining Inc.
(T) (415) 339-8825