Alpha One Corporation

February 01, 2011 11:47 ET

Alpha One Corporation Announces New Senior Management Appointments and Stock Option Grants

TORONTO, ONTARIO--(Marketwire - Feb. 1, 2011) - Alpha One Corporation ("Alpha One") (TSX VENTURE:AOC.H) today announced changes in senior management positions and the appointment of new officers and directors.

Donald H. Christie, previously Chief Financial Officer and a director of Alpha One, has been appointed as President and Chief Executive Officer, has stepped down as Chief Financial Officer and will remain a director of Alpha One. Miles Nagamatsu has been appointed as the new Chief Financial Officer and as a new director of Alpha One. Peter J. Hooper has stepped down as President and Chief Executive Officer of Alpha One but shall remain with the company a director.

On January 17, 2011, Alpha One announced its intention to grant to certain of its directors and officers incentive stock options to purchase up to an aggregate of 340,000 common shares. Those options were awarded in accordance with Alpha One's stock option plan, made effective as of January 31, 2011, and will be exercisable on or before January 31, 2016 at a price of $0.15 per common share.

Forward-Looking Statements

This News Release includes certain "forward looking statements". These statements are based on information currently available to Alpha One and Alpha One provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe Alpha One's future plans, objectives or goals, including words to the effect that Alpha One or management expects a stated condition or result to occur. Forward looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, b their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of Alpha One's mineral properties, and Alpha One's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of Alpha One; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of Alpha One's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on Alpha One's forward-looking statements. Alpha One does not undertake to update any forward-looking statement that may be made from time to time by Alpha One or on its behalf, except in accordance with applicable securities laws.

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