FMX Ventures Inc.

June 01, 2009 21:57 ET

FMX Ventures Announces Completion of Share Sales by Principal Shareholders

TORONTO, ONTARIO--(Marketwire - June 1, 2009) - FMX Ventures Inc. (the "Company") (NEX BOARD:FMX.H) announced today that the previously announced share sales by its two principal shareholders have now been completed. Pursuant to such share sales, a total of 15,005,169 or approximately 38% of the outstanding common shares were sold by Lawrence & Company Inc. and a total of 6,619,047 or approximately 17% of the outstanding common shares were sold by The VenGrowth Investment Fund Inc. to third party investors in private transactions.

In connection the share sales, the board of directors of the Company has been reconstituted and a new Chief Executive Officer has been appointed. Eric Klein, Richard Williams and Lonnie Kirsh have been appointed as directors replacing the three incumbent directors. Mr. Klein has also been appointed as President & Chief Executive Officer of the Company. Mr. Jon Kelly remains in his position as Chief Financial Officer.

Mr. Klein is a Chartered Accountant and Chartered Business Valuator with over 20 years of experience in corporate finance and valuation, corporate management, and professional accounting. Mr. Klein currently serves as the lead partner of Klein Farber Corporate Finance Inc., a financial services advisory firm, and also serves as a corporate director. Mr. Williams is a lawyer and President of Blackwell Investor Relations Corp., a company specializing in introducing publicly traded companies to analysts, brokers and money managers in Canada, the U.S. and Europe. He is also a director, officer and/or counsel to a select group of public and private corporate clients. Mr. Kirsh is a securities lawyer with a focus on junior resource and other small-cap companies. Mr. Kirsh serves as a director on a number of Canadian public company boards. The new board and management team's mandate is to recapitalize the Company and search for suitable assets or businesses to acquire or merge with, with a view to maximizing value for shareholders. The previously announced voluntary dissolution of the Company will not be proceeded with.

Number of Common Shares Outstanding - 39,342,894

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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