VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 6, 2012) - Cap-Ex Ventures Ltd (TSX VENTURE:CEV)(OTCQX:CPXVF)(FRANKFURT:X0V) ("Cap-Ex" or the "Company") is pleased to announce the appointment of Ms. Valery Zamuner as Chief Legal Officer and Corporate Secretary and the amalgamation of Schefferville Iron Ore Exploration Corp. (SIOEC).
Ms. Valery Zamuner was General Counsel, Vice President Legal Affairs and Corporate Secretary for Consolidated Thompson Iron Mines Ltd (CLM), and played a central role in managing CLM's off-take and strategic partnership agreements with Wuhan Iron and Steel, as well as, negotiating and concluding the final sale of CLM to Cliffs Natural Resources Inc. The C$4.9B sale to Cliffs represents the largest acquisition ever of a North American iron ore company. Ms. Zamuner obtained her civil law degree from Laval University, is a member of the Quebec Bar and is in the process of completing an MBA at Concordia University, John Molson School of Business. In addition to her CLM experience, she brings a wealth of experience and expertise in corporate and commercial law in the areas of international and domestic M&A, securities, corporate finance and private investment funds.
François Laurin, President and CEO of Cap-Ex, stated, "I am very pleased to welcome Valery to the Cap-Ex team. Her experience and expertise, specifically her work with Consolidated Thompson, will be invaluable as we work to advance our Block 103 project, in addition to the entire Cap-Ex project portfolio."
The Cap-Ex Board of Director's has also approved the amalgamation of Schefferville Iron Ore Exploration Corp. (SIOEC), a wholly-owned subsidiary of Cap-Ex. Pursuant to the amalgamation, the shares of SIOEC shall be cancelled without any repayment of capital, no securities shall be issued and no assets shall be distributed by the Company in connection with the amalgamation. The articles and bylaws of the amalgamated corporation shall be the same as the articles and bylaws of the Company, and the name of the amalgamated corporation shall remain Cap-Ex Ventures Ltd.
About Cap-Ex Ventures Ltd.
Cap-Ex Ventures Ltd. is a Canadian listed company, focused on the development of its Block 103 Iron Ore Project in the Labrador Trough, near the mining town of Schefferville, Quebec. The Block 103 property is strategically located close to an existing railway, which can provide a direct link to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
For additional information please visit the Company's website at www.cap-ex.ca.
CAP-EX VENTURES LTD.
On behalf of the Board
Francois Laurin, President and CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the development potential of the Company's Block 103 iron ore property, future exploration plans and the expected timing for completion of an NI 43-101 mineral resource estimate and a preliminary economic assessment. Generally, forward- looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
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