Red Star announces changes to directors and officers

VANCOUVER, Aug. 22, 2014 /CNW/ - Red Star Capital Ventures Inc. (TSXV: RSM.H) ("Red Star" or the "Company") announces changes to the directors and officers of the Company.

The following directors and officers of Red Star have resigned: Brian Thurston (CEO, Corporate Secretary & Director), Sonny Janda (Director), and Roopinder Mundi (Director). Asha Reeves will remain as a director of Red Star.

The new directors and officers of Red Star are as follows:

David Hodge (CEO & Director)

Mr. Hodge is a businessman with over 17 years of experience in the management and financing of publicly traded companies. He has been the president of Zimtu since July, 2008. Mr. Hodge has been the president and director of Commerce Resources Corp., a junior natural resource mining company listed on the Exchange since May, 1999, a director of Pasinex Resources Ltd., a junior natural resource mining company listed on the Canadian National Stock Exchange, since May, 2008, and a director of Western Potash Corp., a mining company listed on the Toronto Stock Exchange, since July, 2007, a director of Lakeland Resources Inc., a mining exploration company listed on the TSXV since July 2010, and a director of Equitas Resources Corp.

Sean Charland (Director)

Mr. Charland is a seasoned communications professional with experience in raising capital and marketing resource exploration companies. Mr. Charland has been a director of Zimtu since January, 2012. His network of contacts within the financial community extends across North America and Europe. Mr. Charland also serves as a director (April, 2011, to present) and corporate secretary (September, 2011, to present) of Pacific Polar Energy Group and a director (May, 2012, to present) of Prima Diamond Corp., both private exploration companies. Mr. Charland is a director of Nanton Nickel Corp. (April, 2012, to present) and Arctic Star Exploration Corp. (March, 2012, to present), both TSXV-listed companies.

Jody Bellefleur (CFO & Corporate Secretary)

Ms. Jody Bellefleur is currently the Chief Financial officer of Red Star. She has been Chief Financial Officer of Zimtu Capital Corp. since June, 2013 and has been with the group since 2008. She is responsible for regulatory financial reporting including preparation of quarterly financial statements and management discussion and analysis. Ms. Bellefleur is a CGA with over 15 years' experience as a corporate accountant. She was an accountant with a private manufacturing company for 12 years and more recently, has worked independently as an accountant for various publicly listed mineral exploration companies. She has been a Member of the Certified General Accountants Association of British Columbia since 1998. Ms. Bellefleur is a graduate of the University of British Columbia with a Bachelor of Commerce degree.

The former directors and officers will transfer their escrowed shares to the new directors and officers and certain other shareholders. The director and officer changes and the escrow share transfer have been conditionally approved by the TSX Venture Exchange (the "Exchange").

About Red Star Capital Ventures Inc.

Red Star, a capital pool company within the meaning of the policies of the Exchange, was incorporated February 17, 2011 and was listed on the Exchange on July 13, 2011. Red Star does not have any operations and has no assets other than cash. Red Star's business is to identify and evaluate businesses and assets with a view to completing a qualifying transaction under the policies of the Exchange.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Red Star believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Red Star disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

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.

SOURCE Red Star Capital Ventures Inc.

For further information: Red Star Capital Ventures Inc., Dave Hodge, CEO, 604-681-1568