Canada Coal Announces Proposed Business Combination With Suntricity Corporation - Seite 3

It is contemplated that the Definitive Agreement will be executed by no later than January 15^th, 2015 and, subject to the satisfaction of all conditions precedent, it is anticipated that the closing of the Transaction will occur no later than February 27^th, 2015. However, there can be no assurance that the Transaction will be completed as proposed or at all.

Trading of the common shares of the Company has been halted by the TSX-V and trading will remain halted in accordance with TSX-V policies until all required documentation with respect to the Transaction has been received and the TSX-V is otherwise satisfied that the halt should be lifted.

A press release with further particulars relating to the Transaction will follow in accordance with the policies of the TSX-V.

Completion of the Transaction is subject to a number of conditions, including TSX-V acceptance and disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Transaction, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in securities of Canada Coal should be considered highly speculative.

On behalf of the Board of Directors

R. Bruce Duncan, Executive Chairman & Director

The TSX Venture Exchange has in no way passed upon the merits of the Transaction and neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

FORWARD LOOKING STATEMENTS:

The statements used in this press release may contain forward-looking statements, and are based on the opinions and estimates of management, or on opinions and estimates provided to, and accepted by, management. These opinions and estimates are used by management, and speak only as of the date of this press release. Forward-looking statements in this press release include, but are not limited to, the closing of the Transaction and the anticipated benefits from the Transaction. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions, including with respect to the closing of the Transaction, the timing and receipt of all applicable regulatory approvals and third party consents, the anticipated benefits from the Transaction and the satisfaction of other conditions to the completion of the Transaction. Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ, possibly significantly. Although the Company believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual events or results will be consistent with these forward-looking statements. Except as required by applicable law, the Company does not undertake, and specifically disclaims, any obligation to update or revise any forward-looking information, whether as a result of new information, future developments or otherwise. Readers are therefore cautioned not to place undue reliance on any forward-looking statements.

Canada Coal Inc.
1-604-638-0971
[e-mail]
www.canadacoal.com