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Xinergy Ltd. announces filing of business acquisition report

^{Published on 2010-07-12 19:41:23 - Market Wire}
 

KNOXVILLE, TN, July 12 /CNW/ - Xinergy Ltd. (TSX: XRG) ("Xinergy" or "the Company") announced the filing of the business acquisition report ("BAR") relating to its acquisition of the remaining 95% interest in Raven Crest Mining, LLC ("Raven Crest"), as required by applicable Canadian securities laws. The closing of Raven Crest was previously announced in a press release dated April 29, 2010.

The BAR includes unaudited pro forma condensed consolidated financial statements that have been prepared and include information from the audited consolidated financial statements of Xinergy as at and for the year ended December 31, 2009 and the unaudited interim consolidated financial statements of Xinergy for the three months ended March 31, 2010; the audited consolidated financial statements of Raven Crest for the year ended December 31, 2009 and the unaudited interim consolidated financial statements of Raven Crest for the three months ended March 31, 2010.

The complete report is available on the Company's website [ www.xinergycorp.com ] or under the Company's SEDAR profile at [ www.sedar.com ].

About Xinergy Ltd.

Headquartered in Knoxville, Tennessee, Xinergy, through its wholly owned subsidiary, Xinergy Corp., is engaged in coal mining in eastern Kentucky and central West Virginia. The Company controls mining properties in Kentucky, West Virginia and Alabama. Currently, Xinergy sells steam coal to electric utilities and industrial companies throughout the southeastern United States. For more information, please visit [ www.xinergycorp.com ].