|By Marketwired .||
|July 16, 2014 09:51 AM EDT||
TORONTO, ONTARIO -- (Marketwired) -- 07/16/14 -- Active Control Technology Inc. (the "Company" or "Active Control") (TSX VENTURE:ACT), today announced that several of the Company's clients, producing coal for their internal Power Generation operations, have divested themselves of their mining operations over the last week. These mines represent the majority of Active Control's ActiveMine revenues. The financial impact of these transactions will be determined over the next 3 - 6 months.
The impact of the United States of America's legislative transition away from coal in American power plants is having an immediate negative impact on coal mining operations and coal prices and is expected to have a negative impact on the business of the Company.
About Active Control Technology
Active Control Technology is a provider in the design, manufacture and marketing of wireless and fiber network solutions for mine communications, mobile power solutions and the commercial security and access control industries. . For more information, visit www.activecontrol.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: This press release contains forward-looking statements which reflect the Company's current expectations regarding future events. The forward looking statements involve risks and uncertainties. Actual results could differ materially from those projected herein. The Company disclaims any obligation to update these forward-looking statements.
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