| ||July 21, 2008|
Canasia Receives Comfort Letters for All of its Coal Permit Applications
| ||Canasia Industries Corporation ("Canasia") wishes to announce that it has received a comfort letter from the Saskatchewan Ministry of Energy and Resources covering 100% of the coal permit applications applied for (announced on June 9, 2008). This letter indicates that Canasia is "first in line" on all of its applications. |
The "Comfort Letter" confirms that Canasia is "first in line" for all the permits applied for and will be given priority sequence. The final granting of the coal permits is dependent upon government regulatory approval and time required to process the applications, which is at the discretion of the Government of Saskatchewan. Granting of coal permits is subject to a final review of "each application indicating the nature of the work and money to be expended". The "Comfort Letter" is not a guarantee that all or any of the permits will be issued to Canasia, only that Canasia are first in line for the permits.
Graeme Sewell, a director of Canasia stated, "We are pleased to be notified by the government of Saskatchewan that our coal permit applications have been granted priority status."
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