November 18, 2020 – Richmond, VA – Humble Energy, Inc. (“HUML”) today announces that its Board of Directors has appointed Doug Blackburn as the new Chief Executive Officer of the Company to pursue building “Environmentally Friendly Operations” within the coal mining industry.
The 2020 US coal industry is valued at $20.2 Billion per year and is expected to decline over the next 5 years because large scale producers seem to have difficulty adopting environmentally friendly operation procedures. In a market of this size, it provides an opportunity for a small nimble company with efficient management to seize market share. The Company’s plan under Doug Blackburn as CEO is to acquire targeted opportunities to redefine cleaner operations while focusing on profit for shareholders.
Doug Blackburn’s reputation in the industry will attract an entire team of coal industry veterans that are approaching the thermal coal industry with an entirely new perspective. This management team will focus on running the operations with best in class safety standards and keen attention to costs but will also integrate solar and wind energy solutions to reshape how to utilize their vast landholdings post-mining. Many prior mine locations are ideally situated with high capacity interfaces or sub-stations, into the northeastern electrical grid that can be leveraged at a little incremental cost to enter this growing alternative energy market.
Mr. Blackburn, in conjunction with the University of West Virginia and the Center for Critical Minerals at Penn State University, is looking to expand and add another high-end revenue stream for the Company. These Universities are exploring technology to extract 90-99% of the rare earth mineral content uniquely found in several Appalachian coal seams, coal waste, and mine drainage basins, opening an entirely new market to reinvigorate the Appalachian thermal coal mining industry.
The Board of Directors believes Doug Blackburn’s caliber and experience to lead the Company, provide new leadership to successfully implement a multi-faceted strategy, while taking a fresh approach to incorporating Environmental Friendly Procedures into our practices, is the approach that will lead to profit for our shareholders.
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of the Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words “may,” “would,” “will,” “expect,” “estimate,” “can,” “believe,” “potential” and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company’s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in the Company’s filings with the Securities and Exchange Commission.