Active Growth Capital

July 13, 2011 07:30 ET

Active Growth Capital Acquires Option and Announces Management Change

MONTREAL, QUEBEC--(Marketwire - July 13, 2011) - Active Growth Capital Inc. (TSX VENTURE:ACK) is pleased to announce that it recently signed an option agreement which allows the Corporation to acquire a 100% interest in 31 mining claims located in the Province of Québec by funding $200,000 of exploration expenditures, including $50,000 within the first year following TSX Venture Exchange approval (the "Approval"), making aggregate cash payments of $50,000 and issuing an aggregate of 2,500,000 common shares to the vendor, including $25,000 and 1,200,000 common shares within 5 days of the Approval (the "Acquisition"). The Corporation intends to develop a programme to explore the property in a near future.

The Corporation also wishes to announce the nominations of Mr. Marc Labrecque as Chief Financial Officer and Director as well as Mr. David Michaud as Director of the Corporation.

"Marc's range of experience is the perfect complement for Active Growth. His familiarity with the early-stage environment plus experience with junior mining issuers will allow us to maximize resources now while drawing on his considerable experience to achieve our long term growth objectives. David is a welcome addition to our Board and brings with him a considerable experience in the mining industry." said Martin Tremblay, President and Chief Executive Officer of the Corporation.

Mr. Labrecque has a solid financial background and has had close affiliation with the mining sector for many years. His mining experience includes roles as President, CEO and CFO of Gee-Ten Ventures Inc. and secretary of Jourdan Resources Inc., both publicly traded on the TSX Venture Exchange. Mr. Labrecque also managed many exploration programs throughout James Bay and Côte-Nord.

Mr. Michaud is a Queen's University graduate in mining engineering with nearly 20 years experience. This French, English and Spanish speaking entrepreneur has worked for several large-scale mining producing companies in both North America and South America. For the last year, Mr. Michaud has been consulting in mining for MetallurgyInMotion Inc. and acted as Chairman of Weststar Resources Corp., publicly traded on the TSX Venture Exchange. Prior to that, he was acting as operations manager to Corriente Resources Inc. and involved in the feasibility study of its large-tonnage copper-gold project in South America.

The Directors of the Corporation are honoured by Mr. Labrecque and Michaud's agreement to join the Board and their experience and expertise will prove to be a most important asset to the Corporation in this crucial point of its evolution.

The Directors of the Corporation would like to thank Mr. Bedo Kalpakian, who acted as Interim CFO, and Mr. Jake Kalpakian who both resigned recently from the board and wish them well in their current and future endeavours.

The new nominations and the Acquisition are subject to regulatory approval.

About Active Growth Capital

Active Growth is a TSX Venture Exchange listed junior mineral exploration issuer whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Company is available on SEDAR at

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 news release.

Contact Information

  • Martin Tremblay
    President and CEO