2014

VHGI Holdings, Inc. Appoints Experienced Mining Professional Ron Hutchcraft as Executive Vice President of the Lily Group Project Valued at over $90,000,000 according to Recent Valuation

FT. WORTH, Texas, March 1, 2012 /PRNewswire/ -- VHGI Holdings, Inc. (OTC.QB: VHGI) announced today that its wholly owned subsidiary VHGI Coal  has added to its management team by appointing seasoned mining professional Ron Hutchcraft as Executive Vice President of the recently acquired Lily Group Landree Mine in Jasonville, Indiana

"This is an important step in the execution of our business plan," said Doug Martin CEO of VHGI. "After having closed this transaction, we immediately focused our attention on ensuring  that we had the highest quality of people managing this project who are not only familiar with the quality of coal from this unique deposit, but with all aspects of mining in these conditions," stated  Mr. Martin.

Mr. Hutchcraft has a B.S. and Masters degree in Mining Engineering from the Missouri University of Science and Technology. He has over 25 years of experience in the Midwest in both underground and surface coal mining. His experience includes all facets of engineering, operations supervision and management, preparation and processing, budgeting and financial adherence, environmental health and safety and regulatory affairs. Over the past 10 years Mr. Hutchcraft has served as the Director of Midwest Operations for Headwaters Energy Services, The VP of Indiana Operations for Horizon Natural Resources and AEI Resources and the General Manager for the Beech Coal Company Sycamore Mine. Mr. Hutchcraft joins two other experienced mining professionals of Lily Groups management team, Ron Pickering, VP Engineering and Dave Smith, Mine Superintendent.

Mr. Pickering attended SIC-Harrisburg and SIU-Carbondale pursuing an Engineering Degree. He began his coal mining career with Arclar in 1989 and moved into Engineering with Arclar in 1990. Over the past 22 years Mr. Pickering has remained in engineering and been involved with 5 start up mining projects including, as Mine Engineering Technician at Arclar Portal 2, Senior Mine Engineering Technician at Willow Lake Mine, Mine Engineer at White Oak Resources Mine, Mine Engineer at Prairie State and now (V.P.) Engineering at Landree Mine. Mr. Pickering holds multiple state mining certificates in Illinois and Indiana.

Mr. Smith began his coal mining career in 1984 with Mid Continent Coal Company. Mr. Smith's 28 years of experience are all in underground coal mining. Mr. Smith is a certified electrician, welder and mechanic and worked as a laborer until 1997. During this time Mr. Smith attended the Beckley Mine Rescue School and was Team Captain of the Mine Rescue Team at the Twentymile Mine in CO.  In 1997 he was promoted to Maintenance Chief and Asst. Supt. at Pride Mine. Over the last 15 years Mr. Smith has worked at several underground mines in a management role until joining Landree Mine in mid July as the Mine Superintendent.

Mr. Martin further commented, "These three gentlemen make up a first class management team and have surrounded themselves with the right team of professionals to not only take this mine to the next level, while maintaining  a low production cost per ton, but to be able to do so in keeping with the highest level of safety standards."

About VHGI and VHGI Coal

 VHGI is a diverse company with assets and interests focusing on opportunities within the Healthcare Technology Industry, Precious Metals, Energy and Mining Markets. VHGI Coal is a wholly-owned subsidiary of VHGI, focusing on the coal mining industry.

"Safe Harbor" Statement:

The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development and any other statements not constituting historical facts are "forward-looking statements," within the meaning of and subject to the safe harbor created by the Private Securities Litigation Reform Act of 1995. Since this information may contain statements that involve risk and uncertainties and are subject to change at any time, the company's actual results may differ materially from expected results. This document may contain forward-looking statements concerning the Company's operations, current and future performance and financial condition. These items involve risks, contingencies and uncertainties such as product demand, market and customer acceptance, the effect of economic conditions, competition, pricing, the ability to consummate and integrate acquisitions, and other risks, contingencies and uncertainties detailed in the Company's SEC filings, which could cause the company's actual operating results, performance or business plans or prospects to differ materially from those expressed in, or implied by these statements. The Company undertakes no obligation to revise any of these statements to reflect the future circumstances or the occurrence of unanticipated events.

Investors are invited to obtain information concerning our operations at http://www.vhgiholdings.com or by calling shareholder relations at (954) 548-3086 or emailing info@vhgicoal.com.

For Further Information: info@vhgicoal.com

Shareholder Relations – Communications (954) 548-3086

SOURCE VHGI Holdings, Inc.



RELATED LINKS
http://www.vhgiholdings.com

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

 

PR Newswire Membership

Fill out a PR Newswire membership form or contact us at (888) 776-0942.

Learn about PR Newswire services

Request more information about PR Newswire products and services or call us at (888) 776-0942.