Cabia Goldhills Inc.

Cabia Goldhills Inc.

February 14, 2012 10:36 ET

Cabia Goldhills Inc. Announces the Appointment of Mr. Guy Le Bel to its Board, the Resignation of Mr. Peter Bolt and the Grant of Stock Options

MONTRÉAL, QUÉBEC--(Marketwire - Feb. 14, 2012) - Cabia Goldhills Inc. ("Cabia") (TSX VENTURE:CGH) is pleased to announce that Mr. Guy Le Bel, Ing., MBA, has been appointed to the board of directors of the Corporation. Mr. Le Bel has over 30 years experience in the mining industry, focusing on valuation, financial analysis and strategic and business planning. He is currently Vice-President, Business Development, of Quadra FNX Mining Ltd, a leading mid-tier mining company with copper, gold and platinum production from operating mines in Nevada, Arizona, northern Chile, and Sudbury, Ontario. Prior to joining Quadra Mining, Mr. Le Bel was Corporate Development Consultant to Inco Limited's Strategic Planning Group. Between 1998 and 2000, he was Manager, Business Valuation with Rio Algom. Following the acquisition of Rio Algom by BHP Billiton, Mr. Le Bel was Senior Business Advisor to BHP Billiton Base Metals. From 1987 to 1998, he held the positions of Financial Analyst and Manager, Financial Planning with Cambior Inc. Prior to joining Cambior, Mr. Le Bel worked as Mining and Geotechnical Engineering with Golder Associates. Mr. Le Bel received his Bachelor of Applied Science in Mining Engineering from the Laval University in 1980, his Masters from the University of British Columbia in 1982, and his MBA from L' École des Hautes Études Commerciales, Montréal, in 1990. Mr. Le Bel is a licensed member of OIQ and member of PDAC. His nomination to the Cabia board is subject to the usual regulatory approvals.

The Corporation also announces that Mr Peter Bolt has tendered his resignation as director and officer of the Corporation and its affiliates. The Corporation wishes to thank Mr. Bolt for his dedication to the affairs of the Corporation since its inception and wishes him good luck in his new endeavours.

Cabia also announces that the Board has approved the grant of an aggregate of 350,000 options to certain directors and officers. Each option entitles the beneficiary to acquire one common share of the Corporation at a price of $0.50 per share for a period of five years.

Cabia is a TSX-V listed junior exploration company focused upon the exploration and development of gold projects in Colombia. Cabia currently has 34,894,934 common shares outstanding and has reserved for issuance 2,465,000 additional common shares pursuant to stock options and 6,318,597 common shares pursuant to warrants and compensation options.

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 release.

Contact Information

  • Cabia Goldhills Inc.
    Mr. Maurice Montpetit
    Vice President, Business Development
    (514) 903-7299

    Paradox Public Relations
    Mr. Carl Desjardins
    Investors Relations
    (514) 341-0408