China Opportunity Inc.

August 22, 2010 18:01 ET

China Opportunity Inc. Announces TSXV Conditional Approval and Filing of Filing Statement for Its Qualifying Transaction

TORONTO, ONTARIO--(Marketwire - Aug. 22, 2010) - China Opportunity Inc. (TSX VENTURE:COC.P)("COC") is pleased to announce that it has received conditional approval from the TSX Venture Exchange for its Qualifying Transaction, and that it has filed a filing statement dated August 20, 2010 in connection with this transaction (the "Filing Statement"). COC has entered into a definitive option agreement with Bridgeport Ventures Inc. ("Bridgeport") (TSX:BPV) pursuant to which COC will have an option to earn up to a 70% interest in the McCart Property, a nickel mineral exploration property located in Timmins, Ontario. COC had previously announced an intention to effect a sale of its seed common shares as part of its Qualifying Transaction but the parties have agreed not to pursue such a sale. The directors of the resulting issuer will be David Stefansky, Jesse Kaplan, Yaron Conforti, and Steven Berger. Mr. Kaplan will act as Chief Executive Officer and Carmelo Marelli will act as Chief Financial Officer and Secretary.

Closing of the proposed transaction is expected to occur on August 24, 2010. The Filing Statement is available under Goldbard's profile on SEDAR at, as is a technical report on the McCart Property.

A brief biography of each member of the new management team is included below:

Jesse A. Kaplan — Chief Executive Officer and Director. Jesse Kaplan is currently a partner with Plazacorp Ventures in Toronto. Previously he was senior analyst at Harborview Advisors LLC, a New York-based investment firm focused on providing capital to small emerging growth companies. He is also the director for Rocpart Inc., a private investment company focused on investments in the public and private markets, and Seek Capital Ltd., a private investment company focused on investments in the public markets. Mr. Kaplan was recently the Vice President and Secretary of Goldbard Capital Corporation, a Capital Pool Company that completed a Qualifying Transaction and now has interest in and is currently a director of Skyberry Capital Corp. From June 2005 to December 2006, Mr. Kaplan was the Director of Research for Palladium Capital Advisors, LLC, a NASD member investment bank, where he focused on raising capital for companies in the micro-cap space. Mr. Kaplan holds a Bachelor of Commerce degree from the University of Toronto. Mr. Kaplan completed the Canadian Securities Course in 2005 and completed the Chartered Financial Analyst program in 2008.

Carmelo Marrelli Chief Financial Officer and Secretary. Carmelo Marrelli holds a Bachelor of Commerce degree from the University of Toronto and is qualified as a Chartered Accountant and as a Certified General Accountant in Canada. Since February 1, 2009, Mr. Marrelli has been a principal of Marrelli Support Services Inc., a bookkeeping firm. From 2004 to 2009, Mr. Marrelli was a partner with Marrelli & Drake Corporate Services, a firm which provided administration services to public companies in Canada. Mr. Marrelli also currently serves as Chief Financial Officer of several publicly listed junior mining companies, and as a director of Odyssey Resources Limited.

Yaron Conforti –Director. Yaron Conforti joined XDL Capital Group in February 2010 to lead its investments in the resource sector. He has significant investment banking experience advising public and private companies on mergers and acquisitions and capital raising, with a specific focus on the resource sector. Mr. Conforti was previously a founding partner and Vice President, Investment Banking at Sandfire Securities Inc., an independent Toronto-based investment bank. Prior roles include Principal at Emmarentia Capital Corp., an investment banking boutique, and Associate, Strategic Capital Group at Desjardins Securities Inc. Mr. Conforti began his career with the Canadian International Development Agency (CIDA) and the United Nations Industrial Development Organization (UNIDO). He is currently a Director and Chief Executive Officer of Goldbard Capital Corp., a mining exploration Company that recently completed its Qualifying Transaction. Mr. Conforti received a Bachelor of Commerce (Finance) from Concordia University.

David Stefansky —Director and Chairman. David Stefansky is co-founder and principal of Harborview Advisors, LLC since 2004. At Harborview, Mr. Stefansky has managed a diversified portfolio that has experienced at least 18% annual returns since inception. Prior to founding the firm, Mr. Stefansky spent his entire career with a number of prominent investment banks earning a reputation as a professional with the unique ability to apply the art of structurization to create value for his investment clients in the small and mircocap space. During his 18 years as an investment banker and advisor, Mr. Stefansky's approach of hands-on active investing has created over $400 million of value for his clients. His dynamic involvement and range of expertise has run the gamut of private offerings, public offerings, recapitalizations, public to private transactions, and board representation.

Steven C. Berger —Director. Steven Berger is currently the Chief Financial Officer of HepaLife Technologies, Inc., a publicly traded company on the OTCBB. Mr. Berger was the Chief Financial Officer of Global/CHC Worldwide LLC, a chemical coatings company as well as President of Morgan Harris & Co. where he was involved in equity trading. Mr. Berger was the treasurer, controller and chief compliance officer with LaBranche & Co., the parent corporation of LaBranche & Co. LLC, one of the oldest and largest specialists in equity securities listed on the New York Stock Exchange and the American Stock Exchange. Mr. Berger also recently served as a Director for Goldbard Capital Corporation, a Capital Pool Company listed on the TSX Venture Exchange that recently completed its Qualifying Transaction. Mr. Berger holds a Bachelor of Science degree in business administration with a concentration in finance from Boston University.

Completion of the proposed transaction is subject to a number of conditions, including but not limited to, final acceptance by the TSX Venture Exchange. There can be no assurance that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the proposed transaction may not be accurate or complete and should not be relied upon Trading in the securities of Goldbard should be considered highly speculative.

ADVISORY: Certain information in this press release constitutes forward-looking statements under applicable securities law. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "expects" and similar expressions. Forward-looking statements in this press release include, but are not limited to, statements with respect to the closing or completion of the Qualifying Transaction. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with oil and gas production, marketing and transportation; loss of markets; volatility of commodity prices; currency and interest rate fluctuations; imprecision of reserve estimates; environmental risks; competition; incorrect assessment of the value of acquisitions; failure to realize the anticipated benefits of acquisitions; inability to access sufficient capital from internal and external sources; changes in legislation, including but not limited to income tax, environmental laws and regulatory matters. Readers are cautioned that the foregoing list of factors is not exhaustive.

Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

The forward-looking statements contained in this press release are made as of the date of this press release, and Goldbard does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by securities law.

The TSX Venture Exchange has in no way passed upon the merits of the proposed qualifying transaction and has neither approved nor disapproved the contents of this press release.

Contact Information

  • China Opportunity Inc.
    Yaron Conforti
    416.250.6500 x1289