Wrap Text
Changes to the Board
Forbes & Manhattan Coal Corp.
(Registration number: 002116278)
(External company registration number: 2011/011661/10)
Share code on the Toronto Stock Exchange: FMC
Share code on the JSE Limited: FMC
ISIN: CA3451171050
(“Forbes Coal” or “the Company”)
FORBES & MANHATTAN COAL ANNOUNCES NEW BOARD MEMBER
TORONTO, ONTARIO – May 21, 2013 : Forbes & Manhattan Coal Corp. (TSX: FMC)
(JSE: FMC) announced today that Ryan Bennett, a senior partner of Resource Capital
Funds, FMC’s largest shareholder, has stepped down from the Forbes & Manhattan
Coal board of directors and will be replaced by his colleague Thomas Quinn Roussel.
Stephan Theron, President and CEO of Forbes Coal commented, “On behalf of Forbes
Coal and all its shareholders, the board wishes to thank Mr. Bennett for his service to
the Company and its shareholders.”
Quinn Roussel has been appointed to the board of directors in Mr. Bennett’s place. Mr.
Roussel is a Principal of Resource Capital Funds, a mining-focused private equity firm
based out of Denver, Colorado. Mr. Roussel has also worked as an engineer in both the
mining and the oil & gas industries and currently serves on the board of an Australian
resource company, Finders Resources.
Mr. Theron commented, “Quinn’s experience in the resource sector as an engineer in
the coal space and most recently in the finance side of the business, provides valuable
perspective to our board. We look forward to working with him.”
About Forbes Coal
Forbes Coal is a growing coal producer in southern Africa. It holds a majority interest in two
operating mines through its 100% interest in Forbes Coal (Pty) Ltd., a South African company
("Forbes Coal Dundee") which has a 70% interest in Zinoju Coal (Pty) Ltd. ("Zinoju"). Zinoju
holds a 100% interest in the Magdalena bituminous mine and the Aviemore anthracite mine in
South Africa (collectively, “the Forbes Coal Dundee Properties”). The mines have a substantial
resource base and each mine has a projected life span in excess of 20 years. Forbes Coal is in
the process of increasing production at both mines using existing infrastructure and capacity.
The company has in-place transportation infrastructure allowing its coal to reach both export
corridors and the growing domestic coal market. Forbes Coal has a strong balance sheet and
an experienced coal-focused management team.
Please refer to the company's NI 43-101 compliant technical report on the Forbes Coal Dundee
Properties dated March 1, 2011 entitled "Technical Report on Slater Coal and Subsidiaries,
KwaZulu-Natal Province, South Africa", available on the SEDAR profile of the Company at
www.sedar.com. Additional information is available at www.forbescoal.com.
Cautionary Notes:
Johan Odendaal, B.Sc.(Geol.), B.Sc.(Hons)(Min. Econ.), M.Sc. (Min. Eng.), a director of
Minxcon and an independent Qualified Person, as defined in National Instrument 43-101 has
reviewed and approved the scientific and technical information contained in this release.
The ability of Forbes Coal to increase production amounts has not been the subject of a
feasibility study and there is no certainty that the proposed expansion will be economically
feasible.
This press release contains “forward-looking information” within the meaning of applicable
Canadian securities legislation. Forward-looking information includes, but is not limited to,
statements with respect to the appointment or resignation of directors of Forbes Coal and
statements made with respect to prospects for the business of Forbes Coal . Generally, forward-
looking information can be identified by the use of forward-looking terminology such as “plans”,
“expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”,
“intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and
phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be
taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown
risks, uncertainties and other factors that may cause the actual results, level of activity,
performance or achievements of Forbes Coal to be materially different from those expressed or
implied by such forward-looking information, including but not limited to: general business,
economic, competitive, foreign operations, political and social uncertainties; a history of
operating losses; delay or failure to receive board or regulatory approvals; timing and availability
of external financing on acceptable terms; not realizing on the potential benefits of the proposed
transaction; conclusions of economic evaluations; changes in project parameters as plans
continue to be refined; future prices of mineral products; failure of plant, equipment or processes
to operate as anticipated; accidents, labour disputes and other risks of the mining industry; and,
delays in obtaining governmental approvals or required financing or in the completion of
activities. Although Forbes Coal has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking information, there may
be other factors that cause results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forwardlooking information. The Company does not undertake to
update any forward-looking information, except in accordance with applicable securities laws.
FOR FURTHER INFORMATION PLEASE CONTACT:
Stephan Theron Samantha Thomson
President and Chief Executive Officer Investor Relations Manager
+1 (416) 861-5912 +1 (416) 309-2957
Email: stheron@forbescoal.com Email: sthomson@forbescoal.com
22 May 2013
Sponsor
Sasfin Capital
(a division of Sasfin Bank Limited)
Date: 22/05/2013 04:00:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
