2013-02-27 14:35:40 -
Victoria, British Columbia CANADA, February 27, 2013 /FSC/ - Mill Bay Ventures Inc. (MBV - TSX Venture), announces that it intends to proceed with a restructuring that will include a share consolidation, name change and trading symbol change.
The proposed share consolidation will exchange one new common share for every three old shares. The Company's present issued and outstanding capital of 22,446,539 common shares will be reduced to 7,482,180 common shares.
In conjunction with the proposed share consolidation, the Company intends to change its name from Mill Bay Ventures Inc. to Great Thunder Gold Corp. and change its trading symbol to GTG.
The proposed consolidation and name change, which are subject to shareholder approval and regulatory acceptance, are to facilitate
a planned equity financing. A special general meeting will be held on April 9, 2013 to obtain shareholder approval.
The Company is also pleased to announce the appointment of Mr. Glen Wallace as Chief Financial Officer and Corporate Secretary effective February 28. Ms. Pamela Saulnier has resigned as CFO and Secretary.
Mr. Wallace has served as Chief Financial Officer and a director with several development stage public companies since the 1990s. He is a Certified General Accountant with over 25 years of experience in accounting and the management and administration of publicly listed companies, and was a partner in the accounting firm of Austin Chan & Wallace for six years. He has a Master of Business Administration degree from Laurentian University and Advanced Specialty Certificates in Forensic Accounting and Securities Fraud Analysis from BCIT. Mr. Wallace brings extensive skills in regulatory compliance, finance and administration of emerging companies.
ON BEHALF OF THE BOARD
Signed "Kevin C. Whelan"
Kevin C. Whelan, President
Direct line: (250) 474-6640
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.
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