CALGARY, March 3, 2014 /CNW/ - EmberClear Corp. (TSXV:
EMB) ("EMB" or "EmberClear") today announced its unaudited
financial results for the three and six month periods ended
December 31, 2013.
EMB's net loss for the six month period,
including discontinued operations, decreased 35% to $2,194,322 from a loss of $3,388,624 for the same period in the prior
year.
As of December 31,
2013 the cash position of the company was $174,848, with negative working capital of
$6,062,372 compared to a negative
working capital of $3,884,302 at
June 30, 2013. In addition to cash on
hand, the Company has a remaining credit of $700,000 CDN under a bridge loan. Under the
lending arrangement, the lender reserves the right to approve all
future releases of funds.
EMB's financial statements, management's
discussion and analysis, and related information can be found on
SEDAR at www.sedar.com.
About EmberClear Corp.
EmberClear is an energy developer focused on
clean energy projects in the
United States. EmberClear develops facilities
using natural gas as input to create electricity or
transportation fuels. We utilize our expertise in permitting, site
control and engineering feasibility to develop projects that are
offered to investors interested in purchasing, constructing and/or
operating such energy projects. EmberClear's strategy focuses
on favorably zoned locations
with accessible infrastructure
and feedstock options. EmberClear also holds surface
and mineral rights in Schuylkill County,
Pennsylvania. This property lies in the Southern Anthracite
coalfield of eastern Pennsylvania,
USA. Mineral rights held by the company include
Anthracite/PCI coal suitable for the steel making industry.
EmberClear's shares are listed on the TSX Venture Exchange under
the trading symbol "EMB". For more information, please
visit www.emberclear.com
Forward-Looking Statements
Certain statements contained in this document
constitute forward-looking statements or information (collectively
"forward-looking statements") within the meaning of the "safe
harbour" provisions of applicable securities legislation.
Forward-looking statements are typically identified by words such
as "anticipate," "continue," "estimate," "expect," "forecast,"
"may," "will," "project," "could," "plan," "intend," "should,"
"believe," "outlook," "potential," "target," "seek," "budget,"
"predict," "might" and similar words suggesting future events or
future performance. All statements other than statements of
historical fact may be forward-looking statements. In
particular, this document contains forward-looking statements
pertaining to the adoption of advanced energy solutions and the
global demand for clean technology. With respect to forward-looking
statements contained in this document, we have made assumptions
regarding the demand and political support for clean energy
technologies and the existence of coal resources or reserves on
EmberClear lands. Although we believe that the expectations
reflected in the forward-looking statements contained in this
document, and the assumptions on which such forward-looking
statements are made, are reasonable, there can be no assurance that
such expectations will prove to be correct. Readers are cautioned
not to place undue reliance on forward-looking statements included
in this document, as there can be no assurance that the plans,
intentions or expectations upon which the forward-looking
statements are based will occur.
By their nature, forward-looking statements
involve numerous assumptions, known and unknown risks and
uncertainties that contribute to the possibility that the
predictions, forecasts, projections and other forward-looking
statements will not occur, which may cause our actual performance
and financial results in future periods to differ materially from
any estimates or projections of future performance or results
expressed or implied by such forward-looking statements. The
forward-looking statements contained in this document speak only as
of the date of this document. Except as expressly required by
applicable securities laws, we do not undertake any obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information, future events or otherwise. The
forward-looking statements contained in this document are expressly
qualified by this cautionary statement.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE EmberClear Corp.