Samuel Coal, Inc. On June 15, 2011, the registrant announced that Global Earth Natural Resources, L.L.C., a Texas limited liability company, jointly owned by the registrant, Modern Coal, LLC, a Texas limited liability company, and Global Earth Natural Resources Inc., a New Brunswick corporation, executed a purchase agreement to acquire Samuel Coal, Inc. based in Kentucky. The purchase includes all of Samuel Coal’s existing properties, multiple permits, operations and mineral resources. The purchase price of $7.5 million will be initially funded by a cash down payment paid by Modern Coal to Samuel Coal by June 20, 2011. Under the terms of the agreement, the balance owed will be paid on the closing date of the transaction on August 11, 2011. On June 20, 2011, Modern Coal, LLC transferred its interest in the Samuel Coal transaction to Global Earth Natural Resources, L.L.C.