/NOT FOR DISTRIBUTION IN THE UNITED STATES OR THROUGH UNITED STATES WIRE
TORONTO, May 8 /CNW/ - The Board of Directors of KCC Capital Corporation
(TSXV:KIC.P) is pleased to announce that on May 7, 2009, it has appointed
David Charnock as a Director and Chief Financial Officer of the Corporation.
Mr. Charnock is a finance executive with over 30 years in the industry.
He is currently the President of Kingsway Capital of Canada Inc., a subsidiary
of Kingsway International Holdings Limited (TSX: KIH), a TSX listed financial
services corporation based in Hong Kong. Mr. Charnock also served as the Chief
Financial Officer of Golden China Resources Corporation, a gold mining and
exploration company that was listed on the TSX prior to its takeover by
SinoGold Limited in December, 2007.
Mr. Charnock will be replacing Mr. Anthony Wong, who resigned from his
roles as a Director and Chief Financial Officer on May 7, 2009. "The Board of
Directors would like to thank Mr. Wong for his support and expertise while he
served as a Director and Chief Financial Officer of this Corporation", said
Mr. Douglas Betts, Chairman of the Board of Directors.
The Corporation has also granted Incentive Stock Options to Mr. Charnock,
entitling him to purchase up to 131,920 common shares ("Shares") of the
Corporation at $0.10 per Share, on or before January 13, 2013.
About KCC Capital Corporation
KCC Capital Corporation is classified as a capital pool company, as
defined in Policy 2.4 of the TSX Venture Exchange Inc. (the "TSX-V"). The
principal business of the Corporation is to identify and evaluate businesses
and assets with a view to completing a Qualifying Transaction under TSX-V
rules and policies. Until completion of a Qualifying Transaction, the
Corporation will not carry on any business other than the identification and
evaluation of businesses or assets with a view to completing a potential
Qualifying Transaction. The Corporation is actively engaged in the search for
a suitable Qualifying Transaction.
Investors are cautioned that trading in the securities of a capital pool
company should be considered to be highly speculative. KCC Capital Corporation
is a capital pool company governed by the policies of TSXV. Its principal
business is the identification and evaluation of assets or businesses with a
view to completing a Qualifying Transaction.
The TSX Venture Exchange does not accept responsibility for adequacy or
accuracy of this release.
For further information:
For further information: Gary Quedado, (416) 861-3099 ext 238 or e-mail