Chantrell Ventures Corp. (the "Company" or "Chantrell") (TSX
VENTURE: CV.H) wishes to announce changes to the Board of Directors
effective immediately. The Company has appointed Paul A. Parisotto,
Hugh Agro, Alex Davidson and Lorie Waisberg to its Board. Mr.
Parisotto has been appointed as President, CEO and CFO of the
Company.
Paul A. Parisotto - President, Chief Executive Office, Chief
Financial Officer and Director - is an experienced mining
executive. Mr. Parisotto was the President and Chief Executive
Officer of Arizona Star Resource Corp., from 2004 to 2007, when it
was acquired by Barrick Gold Corporation. From November 2008 to
June 2009 he was the Co-Interim CEO of Noront Resources Ltd and
most recently was the President and Chief Executive Officer of
Tamaka Holdings Inc., a private gold exploration and development
company. Previously, Mr. Parisotto provided investment banking
services to the mining industry.
Hugh Agro - Director - is a retired mining executive. Most
recently, Mr. Agro was Executive Vice President, Strategic
Development with Kinross Gold Corporation. At Kinross, Mr. Agro was
a member of the Executive Leadership Team and responsible for
strategic and operational leadership of Kinross' growth initiatives
including corporate development, global exploration and commercial
activities in Russia. Previously, Mr. Agro held senior executive
positions with Placer Dome, Senator Capital Partners and in
investment banking with Deutsche Bank's Global Metals and Mining
Group. Mr. Agro is a director and member of the Audit Committee of
Victoria Gold Corp. Mr. Agro also serves on the board of Fort
Berens Estate Winery Ltd.
Alex Davidson - Director - was Executive Vice President,
Exploration and Corporate Development with responsibility for
Barrick Gold's international exploration programs and corporate
development activities until 2009. Mr. Davidson joined Barrick in
October 1993 as Vice President, Exploration with responsibility for
Barrick's expanding exploration program. Mr. Davidson has over 30
years' experience in designing, building, implementing and managing
gold and base metal exploration and acquisition programs throughout
the world. In April 2005, Mr. Davidson was presented the A.O.
Dufresne Award by the Canadian Institute of Mining, Metallurgy and
Petroleum. In 2003, Mr. Davidson was named the Prospector of the
Year by the Prospectors and Developers Association of Canada.
Lorie Waisberg - Director - is currently a director of Chemtrade
Logistics, Metalex Ventures, Noront Resources, Primary Energy
Recycling Corporation and Tembec. For 30 years, he practiced law
with Goodmans LLP.
Mr. Parisotto stated, "The mission of the Company is to enhance
shareholder value through the acquisition and development of gold
and copper properties in the Americas. I am looking forward to
working with the Board, all of whom have an excellent track record
in building shareholder value."
The Company has also granted an aggregate of 900,000 stock
options to directors and officers, exercisable at $0.44 per share,
for a period of five years. All existing options have been
cancelled.
Paul Parisotto of Oakville, Ontario, has acquired ownership and
control over 1,950,000 common shares of the Company, representing
18.1% of the Company's issued and outstanding common shares
(4,125,000 shares assuming the exercise of the 1,950,000 share
purchase warrants and 225,000 stock options also acquired by Mr.
Parisotto, which would represent 31.8% of the Company's issued and
outstanding shares assuming exercise of all of Mr. Parisotto's
convertible securities). The shares and warrants were acquired by
Mr. Parisotto in a private transaction at a price of $0.10 per
unit. Neither the Company nor, to the knowledge of the Company
after reasonable inquiry, Paul Parisotto, have knowledge of any
material information concerning the Company or its securities which
has not been generally disclosed.
Kelvin Holdings Inc. ("Kelvin"), a corporation controlled by
Hugh Agro of Oakville, Ontario, has acquired ownership and control
over 750,000 common shares of the Company, representing 7% of the
Company's issued and outstanding common shares (1,700,000 shares
assuming the exercise of the 750,000 share purchase warrants
acquired by Kelvin and 200,000 stock options also acquired by Mr.
Agro, which would represent 14.5% of the Company's issued and
outstanding shares assuming exercise of all convertible securities
held by Kelvin and Mr. Agro). The shares and warrants were acquired
by Kelvin in a private transaction at a price of $0.10 per unit.
Neither the Company nor, to the knowledge of the Company after
reasonable inquiry, Hugh Agro, have knowledge of any material
information concerning the Company or its securities which has not
been generally disclosed.
Alex Davidson of Toronto, Ontario, has acquired ownership and
control over 750,000 common shares of the Company representing 7%
of the Company's issued and outstanding common shares (1,700,000
shares assuming the exercise of the 750,000 share purchase warrants
and 200,000 stock options also acquired by Mr. Davidson, which
would represent 14.5% of the Company's issued and outstanding
shares assuming exercise of all of Mr. Davidson's convertible
securities). The shares and warrants were acquired by Mr. Davidson
in a private transaction at a price of $0.10 per unit. Neither the
Company nor, to the knowledge of the Company after reasonable
inquiry, Alex Davidson, have knowledge of any material information
concerning the Company or its securities which has not been
generally disclosed.
Lorie Waisberg of Toronto, Ontario, directly and through a
corporation controlled by him, Waisberg Resources Inc. ("WRI"), has
acquired ownership and control over 750,000 common shares of the
Company representing, 7% of the Company's issued and outstanding
common shares (1,700,000 shares assuming the exercise of the
750,000 share purchase warrants and 200,000 stock options also
acquired directly and indirectly by Mr. Waisberg, which would
represent 14.5% of the Company's issued and outstanding shares
assuming exercise of all convertible securities controlled by Mr.
Waisberg). The shares and warrants were acquired by Mr. Waisberg
and WRI in private transactions at a price of $0.10 per unit.
Neither the Company nor, to the knowledge of the Company after
reasonable inquiry, Lori Waisberg, have knowledge of any material
information concerning the Company or its securities which has not
been generally disclosed.
The Company has been advised that the securities were purchased
by each of Paul Parisotto, Kelvin, Alex Davidson, WRI and Lorie
Waisberg for investment purposes and none of the aforementioned
parties has any present intention to acquire further securities of
the Company, although they may, in the future, acquire or dispose
of securities of the Company through the market or otherwise, as
circumstances or market conditions warrant. All acquisition
transactions were completed in reliance on the exemption from the
takeover bid requirements of applicable securities regulation as
set forth in National Instrument 62-104, Part 4, Section 4.2.
The Company wishes to thank former directors and officers, Scott
Ackerman, Robert Chisholm, Aron Buchman and Craig Goldenberger, for
their dedication to the Company.
CHANTRELL VENTURES CORP.
On behalf of the Board
Paul Parisotto, President, CEO, CFO & Director
Statements included in this announcement, including statements
concerning our plans, intentions and expectations, which are not
historical in nature are intended to be, and are hereby identified
as, "forward-looking statements" for purposes of the safe harbor
provided by Section 21E of the Securities Exchange Act of 1934, as
amended by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by words including
"anticipates", "believes", "intends", "estimates", "expects" and
similar expressions. The company cautions readers that
forward-looking statements, including without limitation those
relating to the Company's future operations and business prospects,
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those indicated in the
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Chantrell Ventures Corp. Paul Parisotto President,
CEO, CFO & Director 416 359 7808
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