SAN RAFAEL, Calif., March 15, 2011 /PRNewswire/ -- Colombia Clean Power & Fuels, Inc. (OTC Bulletin Board: CCPF, "Colombia Clean Power & Fuels" or the "Company"), an exploration-stage coal mining and clean energy technology company with headquarters in California, and operations in Colombia, today announced that it has strengthened its internal controls and investor relations and strategic communications functions by hiring two professional services firms, Vibato and CCG Investor Relations.
Colombia Clean Power & Fuels has enhanced management and corporate procedures since adopting its current operating strategy last year. Working with experienced professional services firms helps the Company to implement best-practice financial and internal controls and investor communication to support its anticipated growth.
"We chose Vibato and CCG as partners because of their respective cost-effective and efficient solutions and solid track record and expect both partners to help us cultivate our corporate infrastructure during this critical development stage," said Daniel Carlson, Chief Financial Officer of Colombia Clean Power & Fuels. "Vibato offers an ideal solution for establishing comprehensive internal control procedures as they deliver everything needed for quick implementation and smooth operation. We highly value CCG's experience and are confident that this cooperation will enhance our visibility in the investment community and with financial media, while helping us develop our shareholder base."
Vibato implements the Vibato Internal Controls Suite™ (VICS), an integrated, standardized internal controls solution based upon the external audit and risk analysis methodologies of the Big Four and large regional CPA firms. Vibato performed an on-site implementation at the Company's California headquarters that included a risk assessment, best-practice controls implementation and risk mitigation, segregation of duties analysis, and complete supplemental documentation to execute each control. This modular, scalable approach provides standardized controls across locations, and support for corporate-level controls at the Company's headquarters.
"Public, private, and non-profit organizations can all benefit from our comprehensive and scalable offerings," said Bill Bockwoldt, Chief Executive Officer of Vibato. "Delivering an all-inclusive package allows our clients to hit the ground running and begin benefitting immediately from the integration and efficiency we provide."
At CCG, investor relations and strategic communications are the primary focus, and the agency has developed customized solutions to address the needs of companies ranging from start-ups to established industry leaders and Fortune 500 companies. Communicating effectively with the capital market requires creativity, discipline, an understanding of legal and accounting issues and most importantly, daily interaction with Wall Street. CCG has started to implement an investor and media relations campaign for Colombia Clean Power & Fuels in sync with the broader strategic goals that support growing shareholder value.
"We are excited to design and apply a comprehensive communications campaign for Colombia Clean Power & Fuels and look forward to experiencing the advancement of this growth story. Colombia is one of the largest producers and exporters of coal in the world and has the largest known coal reserves in Latin America," said Crocker Coulson, the President of CCG Investor Relations. "We believe Colombia Clean Power & Fuels is in a prominent position to exploit these high quality coal reserves given its top-quality management team and the improved logistical infrastructure in the northern inland area where Colombia Clean Power & Fuels' efforts are focused."
Vibato delivers a comprehensive audit methodology that helps public, private, and non-profit organizations efficiently and cost-effectively identify and mitigate business risks in order to meet financial reporting requirements and improve their financial operations.
The Vibato Internal Control Suite™ is scalable, affordable, rapidly deployed, and highly effective. It has been tested across organization of all sizes and industry profiles with the same results: successful implementation and standardization of all internal controls; optimized control counts; and ongoing cost savings.
About CCG Investor Relations
CCG is a leading global investor relations and strategic communications consulting firm. In business for more than 30 years, the agency provides a complete range of investor communications, counseling, and IT and data solutions through our global network to over 300 clients across multiple capital markets. CCG has been awarded a number of industry honors for its handling of complex investor relations and crisis communications matters. The agency's corporate headquarters is in Los Angeles with additional offices in Hong Kong, New York, Beijing, Shanghai, Frankfurt, and Tel Aviv.
About Colombia Clean Power & Fuels, Inc.
Colombia Clean Power & Fuels, Inc. (OTCBB: CCPF.OB) is developing coal mining, coal coking and clean coal technology operations in the Republic of Colombia. The Company plans to build mines to produce both metallurgical coal and high-grade thermal coal and implement advanced coal technologies, such as coal gasification and coal-to-liquids, to produce metallurgical coke, urea, liquid fuels, power and other clean energy solutions. Colombia is the world's tenth largest producer and fourth largest exporter of coal, with an estimated 7 billion metric tons ("MT") of recoverable reserves and 17 billion MT of potential reserves.
The Company's current operations are focused on coal exploration and development activities. The Company has retained leading engineering and geological services firms in the U.S. and Colombia to conduct exploration work in selected concessions already acquired and others under consideration for acquisition by the Company. The Company's team of executives, advisors and partners is comprised of experienced entrepreneurs and business professionals in the U.S., Colombia and China that have a breadth of experience in coal mining and clean coal technologies as well as substantial industry relationships.
SOURCE Colombia Clean Power & Fuels, Inc.