Symbol: AZM.TSX Venture
MONTREAL, March 6 /CNW Telbec/ - Azimut Exploration Inc. ("Azimut") is
pleased to announce the appointment of Mr. Dennis Wood as Chairman of the
Board and Mr. Pierre Toth as a Director. Mr. Toth replaces Mr. Jacques
Bonneau, who leaves the Board but will remain as the management's advisor.
Mr. Wood is a highly respected self-directed venture capitalist who
brings with him more than 30 years of experience as a director and manager. He
is currently President and Chief Executive Officer of Dennis Wood
Holdings Inc., and Interim President and CEO for Le Groupe Bocenor Inc. From
1992 to 2001, Mr. Wood served as Chairman, President and CEO of C-MAC
Industries Inc. His term ended with the successful merger of the Quebec-based
company with Solectron Corporation of California.
Mr. Wood lends his support to many companies and is a member of the board
at National Bank Trust, Transat A.T. Inc., The Jean Coutu Group (PJC) Inc.,
Victhom Human Bionics Inc., Le Groupe Bocenor Inc., and Blue Mountain
Wallcoverings. He has been honoured with many distinctions, including an
honorary doctorate from the University of Sherbrooke, and Canada's highest
honour, The Order of Canada.
Mr. Toth is Senior Partner of Cycle Capital Management ("CCM"), manager
of Fonds d'investissement en développement durable (FIDD), a private equity
fund specializing in the clean technology and renewable energy sectors. FIDD
is sponsored by the Fonds de solidarité FTQ, the Fondaction le fonds de
développement de la CSN, and the Fonds d'action québécois pour le
Mr. Toth's previous positions included Vice President of Finance for
TransEnergie HQ (Hydro-Québec International); Vice President of Planning,
Budgeting, Mergers and Acquisitions for Molson; Vice President Corporate
Planning and Treasurer for Telesystem International Wireless; Vice President
and Treasurer for Groupe Vidéotron; and Director of Corporate Finance for the
Caisse Centrale Desjardins. Mr. Toth holds an M.Sc. in Finance from HEC
(Montreal), a Master of Economy in Econometrics (University of Paris) and a
Bachelor of Law (University of Paris).
Other board members are Messrs. Jean-Marc Lulin, Jean-Charles Potvin and
Louis P. Salley.
Mr. Jacques Bonneau, who was Chairman since 1997, leaves the Board to
pursue other challenges. Mr. Bonneau provided excellent support for the
company's activities and Azimut expresses its full appreciation for his
service to the Board.
Azimut also announces it has granted 300,000 stock options to its
directors, officers, employees and consultants. Of this numbers, 280,000 have
been granted to its directors and officers and 20,000 to its consultants. Each
stock option entitles its holder to acquire one common share of the company at
a price of $4.30 per share for a 5-year period.
Azimut is a mineral exploration company developing cutting-edge targeting
methodologies to reduce exploration risks and discover major deposits. Azimut
has 16.6 million issued shares.
The TSX Venture Exchange (TSX Venture) does not accept responsibility
for the adequacy or accuracy of this release.
For further information:
For further information: Jean-Marc Lulin, President and Chief Executive
Officer, Normand Champigny, Executive Vice President, (450) 646-3015, Fax:
(450) 646-3045, email@example.com, www.azimut-exploration.com