NATIONAL
COAL CORP. SELLS TWO MILLION SHARES IN PRIVATE PLACEMENT
Knoxville,
Tenn. – (December 28, 2007) – National Coal Corp. (Nasdaq:
NCOC), a producer of high-quality steam coal in Central and
Southern Appalachia, announces it has
sold two million shares of its common stock in a private
placement netting total proceeds of approximately $8 million.
Daniel Roling, President and CEO of National Coal said, "This placement is a welcome sign of
confidence from our investors. The positive momentum we have
generated in the last half of the year with the acquisition of
Mann Steel, the signing of three new sales contracts, and now
this placement will send us into the New Year with a strengthened
financial position and will enable us to focus on generating more
opportunities to increase shareholder value.”
About National Coal Corp.
Headquartered in Knoxville, Tenn., National Coal Corp.,
through its wholly-owned subsidiary, National Coal Corporation,
is engaged in coal mining in East Tennessee and Southeastern
Kentucky, and through its wholly-owned subsidiary, National Coal
of Alabama, is engaged in coal mining in Alabama. Currently,
National Coal employs about 350 people. National Coal sells steam
coal to electric utilities and industrial companies in the
Southeastern United States. For more information visit www.nationalcoal.com.
Information about Forward Looking Statements
This release contains “forward-looking
statements” that include information relating to future
events and future financial and operating performance. Examples
of forward looking-statements include the assertion that the sale
will strengthen the Company’s future financial
performance. Forward-looking statements should not be read
as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by which,
that performance or those results will be achieved. Forward-looking
statements are based on information available at the time they
are made and/or management’s good faith belief as of that
time with respect to future events, and are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward-looking statements. Important factors that could cause
these differences include, but are not limited to: (i) the
worldwide demand for coal; (ii) the price of coal; (iii) the
price of alternative fuel sources; (iv) the supply of coal and
other competitive factors; (v) the costs to mine and transport
coal; (vi) the ability to obtain new mining permits; (vii) the
costs of reclamation of previously mined properties; (viii) the
risks of expanding coal production; (ix) the ability to bring new
mining properties on-line on schedule; (x) industry competition;
(xi) our ability to continue to execute our growth strategies;
and (xii) general economic conditions. These and other
risks are more fully described in the Company’s filings with
the Securities and Exchange Commission including the
Company’s most recently filed Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q, which should be read in
conjunction herewith for a further discussion of important
factors that could cause actual results to differ materially from
those in the forward-looking statements. Forward-looking
statements speak only as of the date they are made. You
should not put undue reliance on any forward-looking
statements. We assume no obligation to update forward-looking
statements to reflect actual results, changes in assumptions or
changes in other factors affecting forward-looking information,
except to the extent required by applicable securities
laws. If we do update one or more forward-looking statements,
no inference should be drawn that we will make additional updates
with respect to those or other forward-looking statements.
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