C2C Gold Corporation Inc.

C2C Gold Corporation Inc.

August 14, 2009 14:50 ET

Nomination of Mr. Robert Séguin as President and Chief Executive Officer of C2C Gold Corporation Inc.

QUEBEC CITY, QUEBEC--(Marketwire - Aug. 14, 2009) - Mr. Louis Lessard, Chairman of the Board of directors and Don Jhinson Machuca of C2C Gold Corporation Inc. (the "Company" or "C2C") are pleased to announce the nomination of Mr. Robert Séguin as President and Chief Executive Officer, effective immediately. Mr. Séguin presently acts as Managing Partner of Westmount Capital, a Swiss-based consulting firm specialised in investor relations and dealing in corporate finance since 2006. Benefiting from over 23 years of experience as a manager with various institutions, Mr. Séguin recently joined the C2C team, providing his knowledge and allowing the Company to benefit from his international network in connection with C2C's pursuit of a non-dilutive major financing. Mr. Séguin replaces Mr. Yves Gagnon, who left his position following a unanimous Board decision, based on divergences in objectives and priorities.

In addition, the Company announces the resignation of Mr. Richard Brouillard from his position as Chief Financial Officer. Management states that his successor shall be nominated shortly.

The Company considers these changes to be positive and essential for C2C in the midst of the conclusion of its current financing. In this regard, C2C is engaged in advanced discussions relating to a twenty-five million dollar ($25,000,000) "Gold Loan". This financing shall serve to increase production in the Paraiso-Pambil mine (the "Project") and reach the desired annual production of over 100,000 ounces of gold within 36 months.

Furthermore, C2C informs its shareholders that its Ecuadorian Joint Venture partner approves these changes and is confident that they will be beneficial to the development of the Project.

About C2C

C2C is an active gold producer working in south western Ecuador through a Joint Venture exploiting the Paraiso-Pambil gold mine-mill complex.

Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements to be materially different from any future results.

Contact Information

  • Louis Lessard
    Chairman of the Board of Directors
    Jean-Francois Lemay
    Corporate Development and Investor Relations