Buffalo Coal Corp.
TSX Venture: BUF
JSE: BUC
("Buffalo Coal Corp." or "the Group" or "the
Company" or "Buffalo" or "the Issuer")
TORONTO, Nov. 29,
2022 /CNW/ - Buffalo Coal Corp (TSXV:
BUF) advises its shareholders that its Chief Executive Officer
("CEO"), Ms. Emma Oosthuizen
has resigned as the CEO of Buffalo by triggering the termination
clause of her employment contract, pursuant to the change of
control of ownership of Buffalo Coal Corp, first reported on
June 15, 2022. Further, Ms.
Oosthuizen, who was also acting as the interim Chief Financial
Officer ("CFO"), assumes the role of the CFO of the Company
effective immediately.
Simultaneously, the Company announces the appointment of Mr.
Somdeb Banerjee as the CEO effective
November 29, 2022. Mr. Banerjee is
appointed as the CEO of the Group including the operating and
revenue generating subsidiaries, Buffalo Coal Dundee Proprietary
Limited ("BCD") and Zinoju Coal Proprietary Limited
("Zinoju"), and for the entirety of the Group's coal mining
and processing businesses.
Mr. Banerjee completed his engineering qualification from the
prestigious Indian Institute of
Technology, Kharagpur and pursued an MBA from the Indian
Institute of Management, Calcutta
(now Kolkata), a premier institute
for business studies, and has had a significant stint leading
certain African operations of Tata
Steel, a global steel conglomerate, as Managing Director /
CEO.
The Company also wishes to advise that Mr. Kevern
Mattison has departed as the General Manager of its South
African operations during the third quarter of 2022.
The board of directors (the "Board") welcomes Mr.
Banerjee to the Group and wishes him every success, and thanks Ms.
Oosthuizen for her valuable contributions as the Company's CEO
whilst looking forward to her continued association as the CFO.
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.
About Buffalo Coal
Buffalo is a coal producer in South
Africa. It holds a majority interest in two operating mines
through its 100% interest in BCD, a South African company which has
a 70% interest in Zinoju. Zinoju holds a 100% interest in the
Magdalena bituminous mine, the Aviemore East anthracite mine and
the Balgray and North Adit anthracite projects in South Africa. Buffalo Coal has an experienced
coal-focused Board and management team.
The Company has its primary listing on the TSX Venture Exchange
and has a secondary listing on the Alternative Exchange, operated
by the JSE Limited.
Forward-Looking
Statements
This press release may contain forward looking information
within the meaning of applicable securities legislation, which
reflects the Company's current expectations regarding future
events. Forward looking information is based on a number of
assumptions and is subject to a number of risks and uncertainties,
many of which are beyond the Company's control, which could cause
actual results and events to differ materially from those that are
disclosed in or implied by such forward looking information. The
Company does not undertake any obligation to update such forward
looking information, whether as a result of new information, future
events or otherwise, except as expressly required by applicable
law.
SOURCE Buffalo Coal Corp.