2013-01-16 18:39:27 -
Toronto, Ontario CANADA, January 16, 2013 /FSC/ - Panda Capital Inc. (PDA.H - TSX Venture), is pleased to report that its Qualifying Transaction ("QT") target, 2328438 Ontario Inc. d.b.a. Aurigin Resources ("Aurigin"), has appointed Gerard Kisbey-Green as President and CEO of 2328438 Ontario Inc. and will be appointed as President and CEO of Aurigin upon closing of the QT with the Corporation. Current CEO, Ben Smit will remain as Chairman.
The board had identified the need to add more specific gold mining and development experience to the team and a search was initiated to find a suitable candidate. Mr. Kisbey-Green, with his experience, became the obvious choice not only to add the required gold experience but also to add his
corporate management and banking experience on a full time basis as President and Chief Executive of the company. This step also allows for the separation of the Chairman and CEO roles with current CEO, Mr Ben Smit remaining as Chairman and Mr Kisbey-Green being appointed as full time and dedicated CEO.
Gerard is a Mining Engineer with more than 25 years experience in the mining and related financial industry. He graduated from the University of Witwatersrand with distinction and received several awards. He also holds Management development Program qualification with UNISA's School of Business Leadership. He worked on numerous Gold and Platinum mines with the Rand Mines and Anglo Gold groups in South Africa, ultimately managing various large, deep-level gold mining operations. He then spent 17 years in the financial markets, including 5 years as a mining equity analyst and 12 years in Mining corporate finance. He has worked in South Africa and the UK for banks including JPMorganChase, Investec and Standard Bank. Gerard has extensive experience in IPO's, capital raisings, M&A transactions, Nomad and broker experience, advisory roles and deals covering a great diversity of commodities and geographic locations. He has worked on transactions in South Africa, Africa, Western and Eastern Europe, Scandinavia, the Middle East, Far East, Central Asia, Russia and North America. After returning to South Africa as a Managing Director with Standard Bank, Gerard left the banking industry and joined Peterstow Aquapower, a mining technology development company, as CEO, before accepting a position with 2328438 Ontario Inc. as President and CEO.
Aurigin Chairman Ben Smit commented; "I am pleased that Gerard has accepted the appointment to the President/CEO position of the Company. I believe his vision, expertise in corporate finance and the gold mining industry will add significant value to the company and to the board. As Chairman, I am very excited about working closely with Gerard to execute Aurigin's corporate strategy. On behalf of the board, I welcome Gerard to our team."
Gerard Kisbey-Green commented, "I feel very privileged to be appointed President and CEO at this very important and exciting time in the development of this company. I feel like I have turned full circle from my roots in mining, through all aspects of the resources banking world to join management and the Board in developing a new mining company. I look forward to working with this great team and to take the opportunity to draw upon all of my experience in taking the company forward."
About Aurigin Resources
Aurigin Resources Inc. is a mineral exploration company focused on the exploration and development of gold mineral resource properties in Ethiopia and in the Handeni district of Tanzania. Aurigin operates two exploration projects in Ethiopia known as (i) the Dul-Menghe & Agusha Project, consisting of three non-contiguous blocks totaling 954.3585 square kilometers located within the Benishangul Gumuz National Regional State region of Western Ethiopia near the border of Sudan, and (ii) the Kibremengist/Haranfama-Genale-Korcha Project, consisting of two contiguous exploration licenses totaling 1810 square kilometers, straddling the SNNPR and Oromiya National Regional States regions of Southern Ethiopia. In addition, Aurigin is also focused on exploring and developing its Negero Project and Kwadijava Project, which are located on two contiguous tenements totaling approximately 400 km2 in the Handeni gold region of Tanzania.
Completion of the proposed transaction is subject to a number of conditions, including but not limited to, TSX-V acceptance. There can be no assurance that the transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the proposed transaction, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a Capital Pool Company should be considered highly speculative.
The TSX-V has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release. Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Company's filings with the Canadian securities regulators, which filings are available at www.sedar.com.
For more information, please contact:
Panda Capital Inc
Robert Munro, CFO
t: +1 (888) 448-4946
Ben Smit CEO
t: +1 (416) 775-1001
Susan Murphy, IR
t: +1 (416) 775-1001
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