Breaking News

Tweet TWEET

NewLead Holdings Ltd. Announces Revision to September 18, 2013 Announcement

 NewLead Holdings Ltd. Announces Revision to September 18, 2013 Announcement

PR Newswire

PIRAEUS, Greece, Sept. 26, 2013

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.

Website: http://www.newleadholdings.com
 
Press spacebar to pause and continue. Press esc to stop.