MONTREAL, June 5, 2013 /CNW Telbec/ - Kanosak Capital Venture
Corporation (TSXV: KKV) (the "Corporation" or "Kanosak") is pleased to
announce the results of its Annual General and Special Shareholders
meeting, as well as a name change and key board appointments.
Kanosak announces that the name change to Algold Resources Ltd. has been
approved by the shareholders and, subject to TSX Venture Exchange
approval, will be effective in the coming weeks. There is no
consolidation of capital and the shares of the Corporation will
continue to be traded on the TSX Venture Exchange under the symbol "KKV
Benoit La Salle, Chairman of Kanosak, is pleased to announce that Mr.
John Sabine and Ms. Salma Seetaroo were elected to the Corporation's
board of directors at the shareholder meeting.
Mr. John Sabine has over 30 years of legal expertise in mining,
corporate reorganization, securities, financing, and mergers and
acquisitions. Mr. Sabine is widely recognized for advising clients on
complex international projects.
In addition Mr. Sabine has served on the board of directors of a number
of public and private companies in a variety of businesses. Until its
takeover in 2012 for over $1 billion by Mine Metals Resources, a large
Chinese mining conglomerate, Mr. Sabine was a director and Chairman of
the Board of Anvil Mining Limited. He is currently a director of Lipari
Energy Inc., a Kentucky based thermal coal producer listed on the
Toronto Stock Exchange.
Ms. Salma Seetaroo is the co-founder of Medea, a London-based natural
resources merchant bank focused on Africa. She has many years of
experience in the mining sector, structuring and raising finance (debt
& equity) for mining companies in emerging markets such as Burkina
Faso, Mauritania, Zambia, Democratic Republic of Congo and Zimbabwe.
She previously worked at Société Générale as a mining finance banker
and Oriel Securities as a corporate financier where, together with
David Henry, she established a principal investment book in junior
miners. She started her career at Norton Rose as a mining finance
lawyer, being primarily involved in Francophone Africa.
Former directors Mr. René Lopez and Mr. Yves Rougerie did not seek
re-election. The Corporation thanks them for their contributions and
wishes them well in their future endeavours.
Annual Meeting Resolutions
The following resolutions were placed before shareholders at the 2013
Annual General and Special Meeting and were passed.
Appointing PricewaterhouseCoopers LLP as Auditors of the Corporation and
authorizing the Directors to fix their remuneration.
Electing the directors of the Corporation.
Authorizing a change in the Corporation's name from Kanosak Capital
Venture Corporation to Algold Resources Ltd.
Authorizing the creation of a new control person through the issuance of
up to 8,000,000 common shares to Gondwana Gold Inc. in connection with
the Corporation's previously-announced proposed acquisition of mining
properties in Burkina Faso.
The total number of voting shares represented by shareholders present in
person and by proxy at the meeting was 1,171,669 representing 16.67% of
Kanosak's outstanding voting shares.
The six nominees listed in the Management Information Circular dated May
3, 2013 proposed for election as directors were elected by a show of
hands. These are: Benoit La Salle, Chairman of the Board and Director;
Yves Grou, Executive Vice Chairman and Director; François Auclair, CEO
and Director; Jean François Lalonde, Director; John Sabine, Director;
and Salma Seetaroo, Director.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
SOURCE: Kanosak Capital Venture Corporation
For further information:
Kanosak Capital Venture Corporation
President and CEO
+1 (514) 889 5089
+1 (514) 504 9657 (fax)