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EmberClear Corp. Announces Fiscal Year End 2012 Results

Calgary, AB – October 29, 2012 – EmberClear Corp. (TSXV: EMB) (“EMB” or “EmberClear”) today announced its audited financial results for the twelve month and three month periods ended June 30, 2012.

 

EMB’s net loss for the twelve month period, including discontinued operations, increased 164% to $11,217,307 from a net income of $7,214,334 for the same period in the prior year. For the three month period, the loss was $5,369,306 compared to a gain of $4,458,029 for the same three months in the prior year.

 

Included in the net loss is an impairment charge of $3,079,364 relating to the Company’s coal asset. The impairment charge was determined using recent transaction prices for coal in the ground between third parties.

 

As of June 30, 2012 the cash position of the company was $4,426,534 with working capital of $4,109,395 compared to working capital of $9,251,229 at June 30, 2011.

 

EMB’s financial statements, management’s discussion and analysis, and related information can be found on SEDAR at www.sedar.com.

About EmberClear

EmberClear is a global energy development company specializing in low-emission, commercial scale energy projects. The Company is primarily focussed on natural gas in the United States as an input to create electricity, industrial chemicals and transportation fuels. We utilize our proven expertise in permitting, site-control, and engineering feasibility to create turnkey projects with contracted returns suitable for long-term owners and operators of long-life capital assets. 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 Statement Disclaimer

Certain statements contained in this document constitute forward-looking statements or information (collectively “forward-looking statements”) within the meaning 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, without limitation, the following: statements about the gas to liquids (“GTL”) production rates; our intention and ability to finance, construct and secure long term off-take contracts for methanol, gasoline or power and gas supply for GTL or natural gas combined cycle (“NGCC”) plants or other energy projects on the property which would economically create liquids or power from natural gas; to obtain and maintain permits; to build state of the art liquids or power facilities; access to markets; and demand for energy and transportation fuels. With respect to forward-looking statements contained in this document, we have made assumptions regarding, among other things, the following: the economic viability of a GTL project, the suitability of these site for GTL projects, access to natural gas, power, rail and water treatment facilities, the economic viability of a NGCC project, natural gas pricing; favourable market conditions for natural gas power plants; positive trends in capital markets for natural gas projects; stable investment conditions in North America; maximizing value of the natural gas project for shareholders; the benefit of site proximity to natural gas supply, pricing and access to markets; attracting appropriate financial participants; and the timing of construction. 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. These risks and uncertainties include, among other things, the following: the possibility that the property will not prove to be suitable for a gas to liquids project or that EmberClear will not have the financial or other resources to develop, construct or operate a GTL, NGCC or other project; the possibility that EmberClear will not be able to take advantage of the market trends such as the availability and price of natural gas, gasoline, methanol and electricity pricing. Readers are cautioned that this list of risk factors should not be construed as exhaustive. 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.

 

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© 2012 EmberClear Corp.

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