CDG Investments Inc.
OTC Bulletin Board : CDGEF

CDG Investments Inc.

May 19, 2006 17:21 ET

CDG Investments Inc. Announces Corporate Restructuring

CALGARY, ALBERTA--(CCNMatthews - May 19, 2006) - CDG Investments Inc. (CNQ:CDGI) (OTCBB:CDGEF) ("CDG") announces that, effective May 19, 2006, Mr. James Devonshire has been relieved of his responsibilities as CEO/President of CDG and ceased to be a consultant of the Corporation. Mr. Robert Ingram, currently a director of the Corporation has been selected to replace Mr. Devonshire as CEO/President and Mr. Kerry Brown will replace Mr. Devonshire as Chairman. Mr. Devonshire has resigned as a director of the Corporation effective immediately. CDG wishes James success in his future endeavors.

In addition, Mr. Calvin Fairburn has been appointed a member of the Audit Committee.

CDG has also completed its previously announced return of capital distribution, consisting of one share of Tyler Resources Inc. ("Tyler"-TYS-TSX-V-TYRRF-OTC-BB) for each three CDG common shares and a cash payment of $0.07 Cdn. per CDG share. The shareholders of CDG are advised to consult their own tax advisors with respect to their personal tax treatment of the distribution.

"Barbara O'Neill"

Barbara O'Neill

Corporate Secretary

This news release does not constitute an offer to sell or the solicitation of an offer to buy the securities, or a solicitation of proxies, in any jurisdiction, including but not limited to, the United States. The CDG Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws and may not be offered or sold in the United States except in certain transactions exempt from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Except for the historical and present factual information contained herein, the matters set forth in this news release, including words such as "expects", "projects", "plans", "anticipates" and similar expressions, are forward-looking information that represents management of CDG's internal projections, expectations or beliefs concerning, among other things, future operating results and various components thereof or the economic performance of CDG. The projections, estimates and beliefs contained in such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause CDG's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, among other things, those described in CDG's filings with the Canadian securities authorities. Accordingly, holders of CDG shares and potential investors are cautioned that events or circumstances could cause results to differ materially from those predicted. CDG disclaims any responsibility to update these forward-looking statements.

No Canadian Stock Exchange has approved nor disapproved of the information contained herein.

Contact Information

  • CDG Investments Inc.
    Barbara O'Neill
    (403) 233-7898