TSX VENTURE EXCHANGE: CIZ.H
VANCOUVER, Feb. 19 /CNW/ - Cierra Pacific Ventures Ltd. (the "Company")
announces that its proposed reverse takeover transaction with Alange, Corp.,
as announced on December 5, 2008, will not be proceeding and it has terminated
the November 30, 2008 Acquisition Agreement with Alange, Corp. Messrs. Miguel
de la Campa, Luis E Giusti, Serafino Iacono, Robert Metcalfe, Luis M. Morelli
and Horacio Santos, all of whom were elected as directors of the Company at
the Annual Meeting held on November 10, 2008 in anticipation of closing of the
reverse takeover transaction, have resigned from the Board of Directors of the
Company and Mr. Jeff Durno and Ms. Julie Rennie have been appointed as
directors. Mr. Peter Leitch has been appointed CFO and Corporate Secretary of
The Company also announces that it has entered into a financial advisory
agreement with Endeavour Financial ("Endeavour"), pursuant to which Endeavour
has agreed to provide the Company with general corporate financial advice with
respect to future asset acquisitions in the natural resource sector.
The Company's shares will resume trading on the NEX board of the TSX
Venture Exchange on February 23, 2009.
On behalf of Cierra Pacific Ventures Ltd.
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: Gordon Keep, Tel: (604) 609-6110