Novadx Ventures Corp. (TSX-V: NDX), which has coal mines in Tennessee and Alabama, said Oct. 18 that it has added coal industry veteran Marc Solochek to its Board of Directors.
Solochek brings over 30 years of experience in the coal industry to Novadx. He currently serves as a financial consultant to the mining industry, advising companies such as Norwest Corp., on a full range of the financial aspects of mining projects. From August 2006 to May 2011, Solochek was the CEO and CFO of Medical Information Systems Technology LLC, and also served as a director of National Coal Corp. from April 2009 to December 2010. Prior to that, Solochek also served as the EVP and CFO of Vulcan Capital Management LLC, a private equity firm, EVP and CFO of Wyoming coal producer Triton Coal Co. and as the Chairman of the Board of Managers of Central Appalachia landholder The Elk Horn Coal Co. LLC.
Novadx’s new CEO, Daniel Roling, himself a veteran of National Coal, said: “I am extremely pleased to have Marc join the Novadx team. Marc’s financial experience will be of great value as we work to complete our proposed capital restructuring, and his direct experience in the coal industry will be invaluable as we position the Company for meaningful growth.”
Roling, a Wall Street veteran, was brought aboard in September.
Novadx is a Vancouver-based mining investment company. Its MCoal Corp. unit operates the Rosa coal mine in Blount County, Ala., is developing the Rex No.1 coal mine in Campbell County, Tenn., and is in the process of acquiring former National Coal properties next to Rex No. 1 that now belong to coal operator Jim Justice.