America West Resources, Inc.
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SALT LAKE CITY, UT – (PR NEWSWIRE) – January 8, 2009 – America West Resources, Inc. (OTCBB: AWSR), a domestic coal producer with mining operations in Central Utah, today announced that it has received approximately $5.2 million in gross proceeds from an equity private placement transaction offered to accredited retail investors and led by the New York City-based financial services firm, John Thomas Financial, Inc. In association with the offering, the Company issued approximately 25.8 million restricted common shares and warrants to purchase 12.9 million common shares. The warrants have a five-year term and an exercise price of $0.30. Specific terms and conditions of the offering have been detailed in a Form 8-K filed on January 7, 2009 with the U.S. Securities & Exchange Commission.

“Disregarding the holidays while also overcoming prevailing challenges in the equity markets, the talented and highly committed brokers and investment bankers at John Thomas Financial got the job done,” stated Dan Baker, Chief Executive Officer of America West Resources. “We are very impressed and greatly appreciative for their efforts on our behalf. The proceeds from the offering will be used to materially strengthen our balance sheet and allow our Company to accelerate monthly production from our Horizon Mine, allowing us to better address rising demand for our compliant coal.”

Thomas Belesis, founder, Chairman and CEO of John Thomas Financial, added, “With both domestic and international demand for coal expected to continue rising well into the foreseeable future, it is essential that U.S.-based mining companies are well positioned and financially prepared to address robust growth opportunities. Given the positive developments that have been occurring at America West Resources over the past several months, coupled with its strong resource base and proven management team, John Thomas Financial determined that the Company merited our attention and investment banking support. The completion of this offering demonstrates that irrespective of actual or perceived financial market difficulties, John Thomas Financial’s retail clients are inclined to actively support smart and compelling investment opportunities. Special credit is also due to our retail sales force, whose tireless dedication to the America West Resources offering led to its successful completion in a very short period of time despite the holiday and troubles in today’s economy.”

The securities issued in the private placement have not been registered under the Securities Act of 1933 or any state securities laws and unless so registered may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933 and applicable state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.

About John Thomas Financial, Inc.
John Thomas Financial, member of the FINRA and SIPC, is an independent broker dealer and investment banking firm headquartered in New York City's Wall Street district, with a growing network of branch offices throughout the country. Emphasizing a client-centric approach to managing all aspects of its business, the firm offers a full complement of retail brokerage and corporate advisory services tailored to the unique needs of its clients and investors. For more information on the firm, please visit

About America West Resources, Inc.
Headquartered in Salt Lake City, Utah, America West Resources, Inc. is an established domestic coal producer focused on the mining of compliant (low-sulfur) coal and its sale primarily to U.S. utility companies for use in generating electricity. Since 2003, the Company has extracted over 1.4 million tons of coal from its owned and operated Horizon Coal Mine based in Central Utah. For more information, please visit

Forward-Looking Statements
This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Please refer to the Company’s Form 10-KSB and other filings with the United States Securities and Exchange Commission (the “SEC”) for additional information regarding risks and uncertainties, including, but not limited to, the risk factors listed from time to time in such SEC reports. Copies of these filings are available through the SEC’s electronic data gathering analysis and retrieval system (EDGAR) at

Dodi B. Handy, President & CEO
For Media Inquiries: Tiffany Korkis or John Morrison, Managing Directors of Elite Media Group 407-585-1080 or via email at

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America West Resources, Inc. Highlights
  • The market cap of the company is less than $30 million
  • Operations at the Horizon Mine has been contiguous since 2003
  • Proven coal reserves for many years in the future
  • Strong, seasoned management team with extensive background in coal
  • Multiple year contracts in place with large companies