SENTIENT III ACQUIRES SHARES OF IVERNIA INC.

/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES AND NOT FOR DISSEMINATION IN THE UNITED STATES/

MONTREAL, Jan. 13 /CNW Telbec/ - Sentient Executive GP III, Limited ("Sentient III") announces that, in connection with a financing announced by Ivernia Inc. ("Ivernia") on January 11, 2011, it has acquired control over 52,900,000 common shares ("Ivernia Shares") of Ivernia on January 13, 2011, representing approximately 9.09% of the outstanding common shares of Ivernia.

Sentient III has control or direction over 52,900,000 common shares of Ivernia, representing approximately 9.09% of the outstanding common shares of Ivernia.  Under relevant securities laws, Green SEA Resources Inc. ("GSR"), a related entity of Sentient III, may be considered as acting jointly or in concert with Sentient III.  GSR owns and controls 225,047,928 common shares of Ivernia (representing approximately 42.52% of the outstanding common shares of Ivernia before the issuance of the Ivernia Shares to Sentient III), representing approximately 38.66% of the outstanding common shares of Ivernia.  Sentient III and GSR have ownership, control or direction over 277,947,928 common shares of Ivernia in the aggregate, representing approximately 47.74% of the outstanding common shares of Ivernia.

Sentient III acquired the Ivernia Shares for investment purposes only and not with a view to materially affecting control of Ivernia. Sentient III and its joint actors have no present intention of acquiring beneficial ownership or control over additional securities of Ivernia.

SOURCE SENTIENT EXECUTIVE GP III LIMITED

For further information:

Sue Bjuro at (345) 946-0933

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SENTIENT EXECUTIVE GP III LIMITED

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