Centram Exploration Ltd.

June 06, 2006 17:07 ET

Centram Appoints Chairman, Chief Financial Officer and Grants Options


This press release is not for distribution to any U.S. news wire services of for dissemination in the United States of America.

The Board of Director's of Centram Exploration Ltd. (NEX:CNA.H) is pleased to announce that, at a Board of Directors meeting held on June 5, 2006, Donald Whalen was appointed non-executive Chairman of the Board and Mark McMurdie C.M.A., was appointed Chief Financial Officer and Corporate Secretary. Mr. McMurdie is a professional accountant with over 25 years of accounting and financial experience, involving public and private companies.

At the same meeting, 800,000 incentive stock options were granted to Centram's Directors and Officers pursuant to the terms of the Company's Incentive Stock Option Plan. The stock options have a term of five years and each option is exercisable at a price of $0.19. From the date of grant, one third of the stock options vest immediately, one third vest in twelve months and the final third vest in twenty four months.

The Board further reports that the members of Centram's audit and compensation committees are Directors David Mosher, Richard Mark and Mr. Whalen. In addition, Wildeboer Dellelce LLP, Toronto, Ontario has been retained to act as Centram's legal counsel.

Some statements contained in this release are forward-looking and, therefore, involve uncertainties or risks that could cause actual results to differ materially. Such forward-looking statements include comments regarding mineral resource statements and exploration program performance. Factors that could cause actual results to differ materially include metal price volatility, economic and political events affecting metal supply and demand, fluctuations in mineralization grade, geological, technical, mining or processing problems, exploration programs and future results of exploration programs, future profitability and production.

Shares Outstanding: 22,230,562

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Centram Exploration Ltd.
    Richard Mark
    (604) 986-2020
    (604) 986-2021 (FAX)