2014-01-02 15:05:29 -
Vancouver, British Columbia CANADA, January 02, 2014 /FSC/ - MicroCoal Technologies Inc. (MTI - CNSX, CFQSF - OTC Pink, OFS.F - Frankfurt), (the "Company") is pleased to report the results of our AGM held on December 27, 2013 wherein the Company received shareholder approval for all the items previously set out in the Notice of Annual General and Special Meeting of the Shareholders namely:
1. The acceptance of the audited financial statement of the Company ending June 30, 2013, and the report of the auditor thereon;
2. The appointment of BDO Canada LLP, Chartered Accountants, as the auditor of the Company for the financial year ended June 30, 2014, and to authorize the directors of the Company to fix the
3. The re-election of all Directors for the ensuing year;
4. The affirmation of the Company's shareholder rights plan and
5. The affirmation of the Company's Long Term Performance Incentive Plan
No other items of business were tabled at the Meeting.
About MicroCoal(r) Technologies Inc.
The Company is focused on commercializing its unique, clean-coal upgrading technology known as MicroCoal(r); a low-cost, patented microwave technology that reduces moisture in coal resulting in an upgraded energy content of coal. This process provides significant financial benefits to coal-fired electrical generating utilities such as: large cost savings from switching to low-rank coal, substantial increases in boiler efficiencies and heat output, improved ash efficiencies and reductions in scrubber costs. Important environmental benefits including reductions in most greenhouse gases (SOx up to 70%, NOx up to 50%, CO2 up to 17%) and mercury are also key primary benefits from implementation of this technology. The Company is currently constructing the first commercial facility in Indonesia with other projects to be announced shortly.
We seek safe harbor.
On behalf of the Board of Directors,
CEO and Director
For further information please contact:
J. Malcolm Bell
MicroCoal(r) Technologies Inc.
Telephone: (604) 676 9792
Certain statements included herein, including those that express management's expectations or estimates of our future performance constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at this time, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Investors are cautioned not to put undue reliance on forward looking statements. Except as required by law, the Corporation does not intend, and undertakes no obligation, to update any forward-looking statements to reflect, in particular, new information or future events. Neither CNSX nor its Regulation Services Provider (as that term is defined in the policies of the CNSX) accepts responsibility for the adequacy or accuracy of the release.
To view the press release as a PDF file, please click on the following link:
Source: MicroCoal Technologies Inc. (CNSX: MTI) www.microcoal.com
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