BCND at .0002-news! Natural Gas, Timber and now coal!!--NORTH HUNTINGDON, Pa., Nov. 6 /PRNewswire-FirstCall/ -- Beacon Energy Corporation (Pink Sheets: BCND) a wholly owned subsidiary of Beacon Redevelopment Industrial Corporation announced today that it has entered negotiations to acquire a 950 acre track of property with coal mining rights/reserves in Pennsylvania.
The company is very confident that current negotiations will result in the successful execution of a purchase agreement immediately with a closing to take place within the next two weeks. Beacon Energy Corporation a wholly owned subsidiary of BCND will be the legal owner of said property.
Pennsylvania is the sixth largest coal producer (29 Billion Tons per Year) in the United States, following Montana, Illinois, Wyoming, West Virginia and Kentucky; two kinds of coal are mined in Pennsylvania- anthracite (hard coal) and bituminous (softer coal). U.S. coal reserves contain 12 times as much energy as all the oil in Saudi Arabia!
According to the United States Geological Survey, we have 1.7 trillion tons of identified coal resources -- coal for which geological evidence and engineering studies provide reliable information about location, rank, quality, and quantity. (Geologists recognize that more coal deposits are likely to be discovered in the future, so they estimate total coal resources could amount to 4 trillion tons.)
"The company and its subsidiaries continue to seek and acquire value added properties that offer sources of energy/reserves, salvageable materials, continuous revenue streams and development potential. The company will acquire the above mentioned property with a combination of cash on hand and some restricted (for 2 years) stock," said Adam Marek President & CEO Beacon Redevelopment Industrial Corporation.
About Beacon Redevelopment Industrial Corporation:
Beacon specializes in acquiring undervalued properties that offer the potential for above average return on investment along with multiple assets and development ability at distressed prices, the properties must offer recyclable/salvageable materials, energy resources or mineral rights along with the potential for redevelopment and or desirable development potential; the company also seeks along with the above for mentioned, properties that have the possibility for governmental grants, tax rebates or deferments as part of their criteria for acquisition. Please visit the company's website at http://www.beaconredevelopment.com/
for all the latest information and updates.
This press release contains certain forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.http://www.beaconredevelopment.com/
DATASOURCE: Beacon Redevelopment Industrial Corporation
CONTACT: Adam Marek for Beacon Redevelopment Industrial Corporation,
Web site: http://www.beaconredevelopment.com/