Active Growth Capital Acquires Option and Announces Management Change
July 13 2011 - 6:30AM
Marketwired
Active Growth Capital Inc. (TSX VENTURE: ACK) is pleased to
announce that it recently signed an option agreement which allows
the Corporation to acquire a 100% interest in 31 mining claims
located in the Province of Quebec by funding $200,000 of
exploration expenditures, including $50,000 within the first year
following TSX Venture Exchange approval (the "Approval"), making
aggregate cash payments of $50,000 and issuing an aggregate of
2,500,000 common shares to the vendor, including $25,000 and
1,200,000 common shares within 5 days of the Approval (the
"Acquisition"). The Corporation intends to develop a programme to
explore the property in a near future.
The Corporation also wishes to announce the nominations of Mr.
Marc Labrecque as Chief Financial Officer and Director as well as
Mr. David Michaud as Director of the Corporation.
"Marc's range of experience is the perfect complement for Active
Growth. His familiarity with the early-stage environment plus
experience with junior mining issuers will allow us to maximize
resources now while drawing on his considerable experience to
achieve our long term growth objectives. David is a welcome
addition to our Board and brings with him a considerable experience
in the mining industry." said Martin Tremblay, President and Chief
Executive Officer of the Corporation.
Mr. Labrecque has a solid financial background and has had close
affiliation with the mining sector for many years. His mining
experience includes roles as President, CEO and CFO of Gee-Ten
Ventures Inc. and secretary of Jourdan Resources Inc., both
publicly traded on the TSX Venture Exchange. Mr. Labrecque also
managed many exploration programs throughout James Bay and
Cote-Nord.
Mr. Michaud is a Queen's University graduate in mining
engineering with nearly 20 years experience. This French, English
and Spanish speaking entrepreneur has worked for several
large-scale mining producing companies in both North America and
South America. For the last year, Mr. Michaud has been consulting
in mining for MetallurgyInMotion Inc. and acted as Chairman of
Weststar Resources Corp., publicly traded on the TSX Venture
Exchange. Prior to that, he was acting as operations manager to
Corriente Resources Inc. and involved in the feasibility study of
its large-tonnage copper-gold project in South America.
The Directors of the Corporation are honoured by Mr. Labrecque
and Michaud's agreement to join the Board and their experience and
expertise will prove to be a most important asset to the
Corporation in this crucial point of its evolution.
The Directors of the Corporation would like to thank Mr. Bedo
Kalpakian, who acted as Interim CFO, and Mr. Jake Kalpakian who
both resigned recently from the board and wish them well in their
current and future endeavours.
The new nominations and the Acquisition are subject to
regulatory approval.
About Active Growth Capital
Active Growth is a TSX Venture Exchange listed junior mineral
exploration issuer whose long-term objective is to build a
diversified company focused on the acquisition, exploration and
development of mineral properties. Additional information about the
Company is available on SEDAR at www.sedar.com.
Neither the 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 news release.
Contacts: Martin Tremblay President and CEO 514.508.1440
Active Growth Capital Inc. (TSXV:ACK)
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