MONTREAL, March 1 /CNW Telbec/ - TOM EXPLORATION INC. (TSX VENTURE: TUM)
announces the appointment of a new Board of Directors by the Shareholders at
their January 19, 2007 annual meeting, being: Messrs Daniel Pauzé,
Martin Harvey, Dane Bridge and Charles Rancourt. On January 23, 2007
Mr. Dane Bridge tendered his resignation as a director of the company. In
addition, as of February 6, 2007, Mr Charles Rancourt tendered his resignation
as president and as a director of the company. Mr. Rancourt's position on the
board of directors was filled by Mr. Patrick Lessard, businessman.
As of February 6, 2007, the board has appointed Mr. Daniel Pauzé as
President of the company, Mr. Patrick Lessard as Vice-president and
Me. Claude Boulanger a lawyer practicing in the Outaouais Qc, was appointed as
legal representative of the company and corporate secretary. On February 21,
2007 Mr. Rémi St. Jean a certified general accountant accepted to become a
member of the Audit committee. As requested by the exchange, Mr. St. Jean has
accepted to become a member of the board of directors of the company and he
will fill all the requirements of the exchange before the end of March 2007.
The Audit committee of the company is now comprised of Mr. Daniel Pauzé
CEO, Mr. Martin Harvey, administrator and Mr. Rémi St. Jean administrator.
Mr. Daniel Pauzé is a businessman from Montreal with a vast experience in
the stock market. He has been on the board of director of Tom exploration for
the past four years. Mr. Patrick Lessard is a businessman from Quebec City. He
holds a degree in international business from Ellis Business College.
Mr. Martin Harvey is also a businessman from the Montreal region with a vast
experience in business management; he owns seven businesses in the greater
Montreal region. Mr. Rémi St. Jean is a CGA from Mont Laurier Qc. and is a
very well known businessman in the region. Me. Claude Boulanger has been a
member of the Quebec Bar Association since 1964. He graduated at the
University of Ottawa in 1963. He started his legal practice in the legal
fields of Taxation, Corporation and Securities. He was also appointed lecturer
at the Law Faculty of the University of Ottawa. During his career, he
represented many companies, public as well as private, Canadian and foreign,
mainly in sectors of mining and biotechnology. No doubt, his experience will
be an asset for the company.
The company is planning to incur no less than $ 437,000. in exploration
and development expenses before December 31 2007 on its Lalonde and Bristol
properties located in Northern Ontario. This money as already been raised by
way of flow-through shares.
The Company's MD&A report of April 30th 2006 stated that the company had
to incur $1,110,657. in exploration and development expenses by
December 31st 2006,in order to satisfy its obligations to subscribers of flow
through shares. Those expenses were not incurred. The money was spent towards
the attempt to buy the Elder mine in Evain Qc. and the Beacon mine in Val D'Or
Qc. The new management of Tom exploration is working to negotiate a resolution
of these issues amicably with the parties concerned.
The company's shares were halted from trading on January 25, 2007.
Trading will be reinstated at the open of trading on March 2, 2007.
On behalf of the board of directors
For further information:
For further information: Daniel Pauzé, (514) 951-7776