PIRAEUS, Greece, Sept. 26, 2013 /PRNewswire/ -- NewLead
Holdings Ltd. (NASDAQ: NEWL) ("NewLead" or the "Company")"
announced that the references in the press release, dated
September 18, 2013, to the agreements
between the Company and sellers in regard to the second mine and
wash plant in Kentucky, USA,
should have been referred to as advanced negotiations.
The Company further clarifies that references to appraisals
should have been references to representations by the potential
seller of the mines and wash plant on the basis of materials they
furnished the Company as part of the preliminary due diligence
conducted.
About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated
shipping and commodity company that manages product tankers and dry
bulk vessels. NewLead currently controls two dry bulk vessels.
NewLead's common shares are traded under the symbol "NEWL" on the
NASDAQ Global Select Market. To learn more about NewLead Holdings
Ltd., please visit the new website at www.newleadholdings.com
"Safe Harbor" Statement under the Private Securities
Litigation Reform Act of 1995
This press release includes
assumptions, expectations, projections, intentions and beliefs
about future events. These statements, as well as words such as
"anticipate," "estimate," "project," "plan," and "expect," are
intended to be ''forward-looking" statements. We caution that
assumptions, expectations, projections, intentions and beliefs
about future events may vary from actual results and the
differences can be material. Forward-looking statements include,
but are not limited to, such matters as the creditworthiness of our
counterparties, the reliability of reserve reports, our ability to
extract or acquire coal to fulfill contracts, the consummation of
conditional contracts, future operating or financial results; our
liquidity position and cash flows, our ability to borrow additional
amounts under our revolving credit facility and, if needed, to
obtain waivers from our lenders and restructure our debt, and our
ability to continue as a going concern; statements about planned,
pending or recent vessel disposals and/or acquisitions, business
strategy, future dividend payments and expected capital spending or
operating expenses, including dry-docking and insurance costs;
statements about trends in the product tanker and dry bulk vessel
shipping segments, including charter rates and factors affecting
supply and demand; expectations regarding the availability of
vessel acquisitions; completion of repairs; length of off-hire;
availability of charters; and anticipated developments with respect
to any pending litigation. The forward-looking statements in this
press release are based upon various assumptions, many of which are
based, in turn, upon further assumptions, including without
limitation, management's examination of historical operating
trends, data contained in our records and other data available from
third parties. Although NewLead believes that these assumptions
were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies which are
difficult or impossible to predict and are beyond our control,
NewLead cannot assure you that it will achieve or accomplish these
expectations, beliefs or projections described in the forward
looking statements. Important factors that, in our view, could
cause actual results to differ materially from those discussed in
the forward-looking statements include the strength of world
economies and currencies, general market conditions, including
changes in charter rates and vessel values, failure of a seller to
deliver one or more vessels, and other factors discussed in
NewLead's filings with the U.S. Securities and Exchange Commission
from time to time. NewLead expressly disclaims any obligations or
undertaking to release publicly any updates or revisions to any
forward-looking statements contained herein to reflect any change
in NewLead's expectations with respect thereto or any change in
events, conditions or circumstances on which any statement is
based.
Investor and Media Relations:
Elisa Gerouki
NewLead Holdings
Ltd.
Telephone: + 30 213 014 8023
Email: egerouki@newleadholdings.com
SOURCE NewLead Holdings Ltd.