KNOXVILLE, TN--(Marketwired - February 11, 2016) - ­Xinergy Corp., a U.S. producer of metallurgical and thermal coal, has announced today that it has successfully completed its financial restructuring and has emerged from Chapter 11 bankruptcy, following confirmation of the First Amended Joint Chapter 11 Plan of Reorganization of Xinergy Ltd. and Its Subsidiary Debtors and Debtors in Possession (the "Plan") by the United States Bankruptcy Court for the Western District of Virginia. The effective date of the Plan occurred on February 10, 2016 (the "Effective Date"). The reorganized company has been renamed White Forest Resources, Inc.

On the Effective Date, the reorganized company also entered into a new credit facility (the "Exit Facility") providing additional liquidity under a new first lien term loan. With a strengthened balance sheet and the liquidity provided under the Exit Facility, the reorganized company is well positioned to continue operations for the foreseeable future and leverage its low cost structure in an improving market for Central Appalachian coal.

Jeffrey A. Wilson will serve as President and CEO of the reorganized company. Michael R. Castle will continue to serve the reorganized company as its CFO. The new members of the Board of Directors will include Mr. Wilson, Matthew Cantor, formerly a partner with the law firm of Kirkland & Ellis and founding principal of Normandy Hill Capital, Jacob Mercer, a Senior Portfolio Manager with Whitebox Advisors, LLC, Jeffrey Buller, a Managing Director with Spectrum Group Management LLC, and Seth Schwartz, the President of Energy Ventures Analysis, Inc.

About White Forest Resources, Inc.

Headquartered in Knoxville, Tennessee, White Forest Resources Inc., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in West Virginia and Virginia. The Company sells high quality thermal and metallurgical coal to electric utilities, steelmakers, energy trading firms and industrial companies.

Forward-Looking Statements

This press release contains "forward-looking statements." Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates" or variations of such words and similar expressions are intended to identify such forward-looking statements. These statements are based on the Company's current plans, expectations, estimates, and projections and actual results or outcomes could vary significant from those expressed or implied in such statements and are subject to a number of risks and uncertainties. These statements are not guarantees of future performance and are subject to risks and uncertainties that are difficult to predict and which may cause the Company's actual results and performance to differ materially from those expressed or forecasted in any such forward-looking statements. Unless required by law, the Company undertakes no obligation to update publicly any forward-looking statements.