Cavan Ventures Inc.

Cavan Ventures Inc.

November 03, 2009 15:40 ET

Ming Chiang Announces Acquisition of Common Shares of Cavan Ventures Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 3, 2009) - Ming Chiang, Chief Executive Officer of Cavan Ventures Inc. ("Cavan") (TSX VENTURE:CVN) announces today that, in connection with the acquisition (the "Acquisition") of 1,440,000 common shares in the capital of Cavan, for $0.07 per common share (the "Purchased Shares") pursuant to a share purchase agreement among Ming Chiang and four shareholders of Cavan dated November 2, 2009 (the "Purchase Agreement").

Ming Chiang has acquired beneficial ownership and control over the Purchased Shares representing 10.24% of the issued and outstanding common shares of Cavan. The Purchased Shares consist of 1,440,000 common shares which are held in escrow pursuant to an escrow agreement dated October 10, 2007 among Cavan, Computershare Trust Company of Canada and certain shareholders of Cavan.

Together with the 118,300 common shares of Cavan owned by Mr. Chiang prior to the Acquisition, Mr. Chiang owns or exercises control over a total of 1,558,300 common shares in the capital of Cavan, representing approximately 11.08% of the issued and outstanding shares of Cavan.

Mr. Chiang is issuing this press release pursuant to the requirements of National Instrument 62-103 and Multilateral Instrument 62-104.

Neither the 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.

Contact Information

  • Ming Chiang
    Suite 579-1917 West 4th Ave.,
    Vancouver, B.C. V6J 1M7
    604-618-7890 or 604-763-7748 (cel)