CanAm Coal Corp. reported that it has received a notice of default from Christian &Small Attorneys who are representing certain holders of the Company's 9.5% Unsecured 2016 Debentures and 12% Secured 2018 Debentures. In accordance with the terms of the Debentures, the entire principal of all Debentures becomes immediately due and payable upon default.

The Company is currently reviewing the notice of default. In addition, the Company has received a demand for payment notice for an outstanding related party loan in the amount of $750,000 that was advanced on November 5, 2014. The Company is currently reviewing the notice of demand for payment.