Number of issued and outstanding shares: 103,404,344
QUEBEC, Aug. 14 /CNW Telbec/ - Mr. Louis Lessard, Chairman of the Board
of directors and Don Jhinson Machuca of C2C Gold Corporation Inc. (the
"Company" or "C2C") are pleased to announce the nomination of Mr. Robert
Séguin as President and Chief Executive Officer, effective immediately. Mr.
Séguin presently acts as Managing Partner of Westmount Capital, a Swiss-based
consulting firm specialised in investor relations and dealing in corporate
finance since 2006. Benefiting from over 23 years of experience as a manager
with various institutions, Mr. Séguin recently joined the C2C team, providing
his knowledge and allowing the Company to benefit from his international
network in connection with C2C's pursuit of a non-dilutive major financing.
Mr. Séguin replaces Mr. Yves Gagnon, who left his position following a
unanimous Board decision, based on divergences in objectives and priorities.
In addition, the Company announces the resignation of Mr. Richard
Brouillard from his position as Chief Financial Officer. Management states
that his successor shall be nominated shortly.
The Company considers these changes to be positive and essential for C2C
in the midst of the conclusion of its current financing. In this regard, C2C
is engaged in advanced discussions relating to a twenty-five million dollar
($25,000,000) "Gold Loan". This financing shall serve to increase production
in the Paraiso-Pambil mine (the "Project") and reach the desired annual
production of over 100,000 ounces of gold within 36 months.
Furthermore, C2C informs its shareholders that its Ecuadorian Joint
Venture partner approves these changes and is confident that they will be
beneficial to the development of the Project.
C2C is an active gold producer working in south western Ecuador through a
Joint Venture exploiting the Paraiso-Pambil gold mine-mill complex.
Forward-looking statements contained in this press release involve known
and unknown risks, uncertainties and other factors that may cause actual
results, performance and achievements to be materially different from any
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.
For further information:
For further information: Louis Lessard, Chairman of the Board of
Directors, (418) 650-4171; Jean-Francois Lemay, Corporate Development and
Investor Relations, (514) 214-8388; www.c2cgoldcorporation.com