BOGOTÁ, Colombia, October 9, 2014 /PRNewswire/ -- New Colombia Resources, Inc. (OTCQB: NEWC) ("New Colombia or the Company"), a U.S. company with coal and other resource assets in Colombia, is pleased to announce they have formed a joint venture to produce cannabis and hemp based medicinal products in Colombia in association with an indigenous community in Colombia. All of the products are produced on the indigenous reservation and commercialized under the favorable sentence C-176 of 1994 and C-882 of 2011 of the constitutional court. Constitutional Court Resolution 010 of 2013 gives territorial entities, such as indigenous reservations, the right to "govern themselves by proper authority."
Cannabis and hemp based products have been produced and sold by indigenous people in all parts of Colombia for many years. New Colombia's partner in this venture has been producing these products on indigenous reservations with miraculous results. They have many testimonials from patients who are using these products. They have topical products that treat, cancer, arthritis, and fibromyalgia. The partnership will focus strongly on producing an exceptional strain for Dravet Syndrome, much like Charlotte's Web. In addition to treating paying patients, New Colombia and its partners will form a foundation to treat underprivileged children with Dravet Syndrome and others.
New Colombia Resources will identify the indigenous community and their brand once the proper legal framework has been established. The company has received a tremendous amount of support from law makers in Colombia. Company President, John Campo, was invited on live television by a conservative senator to make a presentation in front of the Colombian Senate. Mr. Campo is documenting cases of patients that have been cured or relieved by cannabis based products produced on indigenous reservations.
Additionally, New Colombia is actively preparing their property for mining operations. They are in discussions with investment bankers to finance their coal operations. The Company is building two trailers for their rock crushing plant for added mobility and value while they await approval of their environmental permit. As soon as the permit is approved they will begin to sell material. The Company will issue a more detailed release on their mining operations.
New Colombia Resources, Inc.
New Colombia Resources, Inc. is focused on the acquisition and development of high-quality metallurgical coal properties and other available resources in the Republic of Colombia. They expect to have several revenue producing businesses including; metallurgical coal mining, African palm distribution, and traditional and organic coffees. They own 100% of La Tabaquera metallurgical coal mine in Colombia with an estimated 15- 17 MM tonnes of reserves. They have another pending acquisition for 390 ha and a solicitation contract for 184 ha metallurgical coal concession. In April 2014, they announced their intentions to enter the legal medical cannabis industry in Colombia. Once the necessary financing is obtained, the Company plans to have additional revenue producing business units in Colombia: coal mining, coking oven facilities, docks, river, and rail transportation to export terminals in Colombia. For more information on the Company visit www.newcolombiaresources.com.
Transportation, Logistics and Other Information
New Colombia Resources intends to sell their coal at the mine's gate unless they enter into off-take agreements. Upon proper financing, the Company plans to build or acquire river or rail loading facilities on the Magdalena River close to their mines. The coal will be trucked to these distribution centers, and then barged via the Magdalena River or by rail to terminals in Barranquilla, Santa Marta, or Cartagena for export. Initially they will use existing logistics providers while their transportation projects are being developed. After the rail projects and the "Road to the Sun" project are completed, New Colombia Resources will have one of a few metallurgical coal mines in the World with river, rail, and road access to coal export terminals on both the Atlantic and Pacific Oceans.
Forward Looking Statements
Forward Looking Statements; This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934. A statement containing works such as "anticipate," "seek," intend," "believe," "plan," "estimate," "expect," "project," "plan," or similar phrases may be deemed "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the events or results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include financing, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations. New Colombia Resources, Inc. does not undertake any duty nor does it intend to update the results of these forward-looking statements.
New Colombia Resources, Inc.
New Colombia Resources, Inc., mining subsidiary
Cia. Minera San José Ltda.
Kra. 3 # 2-52
SOURCE New Colombia Resources, Inc.