Avaranta Resources Ltd.

May 08, 2009 08:45 ET

Avaranta Announces Name Change, Change of Control and Management Changes

TORONTO, ONTARIO--(Marketwire - May 8, 2009) - Avaranta Resources Ltd. (formerly Allman Technologies Inc.) (the "Company") announces that it has changed its name from 'Allman Technologies Inc.' to 'Avaranta Resources Ltd.'. The name change follows the acquisition by Greencastle Resources Ltd. ("Greencastle") of 1,000,000 common shares (the "Shares") in the capital of the Company, representing 80% of the issued and outstanding Shares of the Company. Prior to the acquisition, Greencastle held 250,000 Shares, representing 20% of the issued and outstanding Shares. Upon completion of the acquisition, Greencastle now holds 1,250,000 Shares, representing 100% of the issued and outstanding Shares.

Following the acquisition, Greencastle approved the name change pursuant to a resolution as sole shareholder of the Company.

Management Changes

Further to Greencastle's acquisition, Alex Baluta, Chris Irwin, Eric Lowy and Eric S. Palmer have resigned as directors and officers of the Company.

Avaranta is pleased to announce that the board of directors of the Company is now comprised of Anthony Roodenburg, James Pirie and Michael Power.

In addition to his appointment to the Board, Anthony Roodenburg has been appointed as the Chief Executive Officer of the Company, James Pirie has been appointed as the Company's President and Chief Financial Officer and Michael Power has been appointed as the Corporate Secretary of the Company.

Mr. Roodenburg has been active in the Canadian investment industry since 1987. His experience includes four years as an Investment Executive with National Bank Financial and more than 15 years as an active investor and officer/director of several public companies assisting in the areas of corporate development and finance.

Dr. Pirie's career as an exploration geologist spans more than 35 years in Canada, the U.S, Europe, Latin America and Asia. He has held a number of positions of increasing responsibility including President, Greencastle Resources Ltd.; VP Exploration, Breakwater Resources Ltd.; VP Exploration, Granduc Mining Corporation; and Exploration Manager, Homestake Canada and Esso Minerals Canada.

Mr. Power is a professional engineer with over 35 years of experience in the mining industry in Canada. A Chartered Financial Analyst he was formerly Vice-President of Corporate Development at Hemlo Gold Mines Inc., now Battle Mountain Gold Company.

Contact Information

  • Avaranta Resources Ltd.
    Anthony Roodenburg
    Chief Executive Officer
    (416) 367-4571 x233