Cap-Link Ventures Ltd.

February 01, 2010 09:00 ET

Cap-Link Appoints a New Director and Announces Option Grants

CALGARY, ALBERTA--(Marketwire - Feb. 1, 2010) -


Cap-Link Ventures Ltd. (the "Company" or "Cap-Link") (TSX VENTURE:CAV) is very pleased to announce that Mr. Gregg Vernon has been appointed a director of the Company effective January 31, 2010.

Mr. Vernon graduated from the University of Alberta with an Engineering degree in 1977, and is a member of the Society of Petroleum Engineers, CWLS and APEGGA. Mr. Vernon is a Professional Engineer with 31 years in the petroleum industry including international operations, reservoir characterization, negotiations, and project management.

Mr. Vernon was one of the founders of Petro Andina Resources and a founder and Chairman of Prospero Hydrocarbons Inc. a private company which operated in Colombia. Mr. Vernon is currently a director of Northern Hemisphere Development Corp. and President of EnCanSol Corp.

Of note, Mr. Vernon was the General Manager, China as well as Engineering and Project Administration Manager on the White Rose project for Husky Energy. He was also the Vice President, COO and Director of Netherfield Energy Corporation operating in Argentina.

Mr. Vernon's diverse executive, technical and international experience will be a strong asset to the Company's Board of Directors. He will also serve as Chairman of Cap-Link's Reserves Committee.

Mr. Vernon's appointment follows the resignations of Mr. Stephen Barley and Mr. Kurt Bordian who resigned as directors of Cap-Link effective January 31, 2010. Both Mr. Barley and Mr. Bordian have been involved with Cap-Link since inception and have been an integral part of its development through to the acquisition of Petrodorado Ltd. by Cap-Link. The Board of Directors and Officers of the Company wish to thank Mr. Barley and Mr. Bordian for their many valuable contributions and wish them continued success in their business endeavors.

Option Grants

Cap-Link's Board of Directors approved on January 31, 2010 the grant of options to acquire 28 million common shares of the Company at a price of $0.49 per common share which is Cap-Link's closing price on the TSXV on Friday January 29, 2010. The options are exercisable on or prior to January 31, 2015 subject to the provisions of the Company's stock option plan.

Each grant of options is for a five year term, expiring on January 31, 2015. The options vest over three years (1/3 on issuance and 1/3 on each the first and second anniversary of the grant date).

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward-looking statements". Such forward-looking statements, including but not limited to uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are cautioned that the assumption used in the preparation of the forward-looking statements, although considered reasonable at the time of preparation may prove to be imprecise and, as such undue reliance should not be placed on forward-looking statements.

The forward-looking statements contained in this press release are made as of the date of this press release. Except as required by law, the Company disclaim any intention and assume no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable securities law. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made, by third parties in respect of the matters discussed above.

Neither 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.

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