Alibaba Innovations Corp.

January 29, 2015 16:20 ET

Alibaba Innovations Corp. Announces Trading on the Canadian Securities Exchange (CSE:ABJ)

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 29, 2015) - Alibaba Innovations Corp. ("AIC" or the "Company") (CSE:ABJ) is pleased to announce that the Company expects its common shares to start trading on the Canadian Securities Exchange ("CSE") on January 30, 2015 under the symbol "ABJ".

Pursuant to an arrangement agreement (the "Arrangement") dated October 23, 2013 with Web Watcher Systems Ltd., approved at a special meeting of shareholders held on December 19, 2013, and by the Supreme Court of British Columbia on January 7, 2014, the Company will issue 14,403,698 common shares to the shareholders of Web Watcher. That arrangement was the subject of a Notice of Change in Corporate Structure posted on SEDAR April 3, 2014 under the Web Watcher profile.

The Company subsequently agreed to conduct a three-cornered amalgamation (the "Amalgamation") pursuant to an amalgamation agreement with Alibaba Graphite Corp., an Ontario corporation, and 2417435 Ontario Limited, a wholly-owned subsidiary of the Company. Pursuant to the Amalgamation, the Company: (i) completed a forward stock split of its existing share capital consisting of 14,403,698 common shares on the basis of two and one-half new common shares (2.5) for every one (1) currently issued and outstanding common share, resulting in an aggregate of 36,009,245 common shares; (ii) agreed to issue an additional of 33,810,002 common shares to the shareholders of Alibaba Graphite Corp.; and (iii) change its name from Cuprum Coating Acquisition Corp. to Alibaba Innovations Corp.

An aggregate of 2,000,000 common shares held by the directors and officers of the Company are subject to escrow conditions. The securities issued pursuant to the Arrangement and the Amalgamation have not been registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements.

The amalgamated company will remain a wholly owned subsidiary and will carry on the business of the exploration of high purity graphite of the kind occurring in the recent hydrothermal "Albany style" graphite discovery north of Hearst, Ontario. In total, the Company will have 69,819,247 common shares issued and outstanding.

William Gordon and Brian Peterson have resigned as directors of the Company. William Gordon and Donald Gordon have resigned as Chief Executive Officer and Chief Financial Officer, respectively. Robert Komarechka was appointed as the President, Chief Executive Officer, and director of the Company; Paul D'Aloisio was appointed a director and Chief Financial Officer of the Company; and Binh Vu was appointed as a director of the Company.

Robert Komarechka - President, CEO and Director

Robert Komarechka holds a B.Sc. in Geology from the Laurentian University and has over 30 years' experience in the mining and mineral exploration industry as well as in the oil and gas exploration industry in Western Canada. His work as current president of Bedrock Research Corp., and earlier, Bedrock Consulting, has encompassed a wide variety of commodities. This ranged from gold exploration in northern Ontario, British Columbia, Idaho, Nevada and Mexico; diamond exploration in northern Ontario and Kentucky; base metal exploration in northern Ontario; and numerous industrial mineral studies across Canada including garnet, talc, calcium carbonate, silica, dimension stone, aggregate and graphite. Mr. Komarechka's geological accomplishments have included the discovery of a new cardium gas field in northern Alberta, the discovery of the Roseval silica mine that produced 99.99% silica for the production of silicon metal. Mr. Komarechka is also a past president of the Sudbury Prospectors and Developers Association, past member of the Mining Act Advisory Committee, and a founding director of the Ontario Prospectors Association.

Paul D'Aloisio - CFO and Director

Paul D'Aloisio is a partner with the accounting firm of Sostarich, Ross, Wright and Cecutti, LLP in Sudbury, Ontario. Mr. D'Aloisio has over fifteen years of experience in public accounting, including the audit of several publicly traded junior mining companies. He has been the Chief Financial Officer at Canadian Arrow Mines Limited since October 23, 2006 and of Lago Dourado Minerals Ltd since May 27, 2010. Mr. D'Aloisio received his designation as a Chartered Accountant in 1994 and his designation as a Chartered Business Valuator in 2000.

Binh Vu - Director

Binh Vu is a lawyer practicing in the area of corporate finance and securities law. He was a previously a partner at Aird & Berlis LLP where he advised resource and energy based clients in respect of equity and debt financings, mergers and acquisitions, divestitures and corporate restructurings. Mr. Vu holds a Masters of Tax degree from the University of Waterloo (2005), an LL.B from Queen's University (2000), and a Bachelor of Science from the University of Toronto (1997).

Further Information

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Further details are available under the Company's profile on SEDAR at, and the Company's profile on the CSE's website at

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of AIC. Forward-looking information is based on certain key expectations and assumptions made by the management of AIC, including future exploration plans. Although AIC believes that the expectations and assumptions on which such forward- looking information is based are reasonable, undue reliance should not be placed on the forward- looking information because AIC can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. AIC disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

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