Mr. David Anderson reports
EMBERCLEAR CORP. ANNOUNCES FISCAL YEAR-END 2014 RESULTS
EmberClear Corp. has released its audited financial results for the year ended June 30, 2014.
EMB's net loss for the 12-month period, including discontinued operations, decreased by 51.9 per cent to $22.8-million from $47.4-million for the same period in the prior year.
Included in the net loss is a net impairment charge of $31.7-million relating to EmberClear's coal properties. Due to continued depressed global price of coal and management's plans to not develop the coal properties, EmberClear has written off the value of the coal properties.
David Anderson, chief executive officer, commented: "The company is well positioned, and it remains focused on its natural-gas-based energy project development business in North America. The writing off the coal properties was a step in the right direction. We are optimistic that our current operating model will lead to a brighter future in 2015."
EmberClear's financial statements, management's discussion and analysis, and related information can be found on SEDAR.
Additionally, Peter Kinash has resigned from the board of directors of EmberClear, effective Nov. 26, 2014. EmberClear would like to thank Mr. Kinash for his dedication in seeing the audit though and his diligent service to EmberClear over the last number of years. EmberClear wishes him great success in his future endeavours.
We seek Safe Harbor.
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