Champion Natural Health.com Inc.
CNQ : CHPG.U

March 22, 2006 12:18 ET

Champion Natural Health.com Inc. Reports Significant Shareholdings

TORONTO, ONTARIO--(CCNMatthews - March 22, 2006) - Champion Natural Health.com Inc. (CNQ:CHPG.U) ("Champion") and Gambier Holdings Corp. (the "Purchaser") announce that the Purchaser has acquired by way of private agreement, an aggregate of 217,758 multiple voting shares of Champion, 202,940 subordinate voting shares of Champion, and $59,846.30 of indebtedness from Larry Melnick. The Purchaser has acquired the above-noted securities of Champion for investment purposes and the Purchaser may, depending on market and other conditions, increase its beneficial ownership, control or direction over the common shares or other securities of Champion, through market transactions, private agreements, treasury issuances, exercise of convertible securities or otherwise. The Purchaser held no securities of Champion prior to this acquisition. The Purchaser is a company controlled by Mr. Thomas Larsen.

In connection with the purchase, Larry Melnick, Sophie Melnick and Michael Carsell have resigned as directors of Champion. Thomas Larsen, Paul Ankcorn and Jean Lafleur, M.Sc., P. Geol. (OGQ), have been appointed to the board of directors of Champion. Additionally, Thomas C. Larsen has been appointed the President and C.E.O. of Champion, with Miles Nagamatsu appointed as C.F.O. and Jorge Estepa appointed the Secretary and Vice President of Champion.

Set forth below is a brief description of the key officers and directors of Champion:

Thomas Larsen - Director, President and Chief Executive Officer

Mr. Thomas Larsen has over 20 years of experience in the investment industry, specializing in corporate finance and management consulting to junior companies. Mr. Larsen holds the position of Chairman and Chief Executive Officer of Eloro Resources Ltd. since 1997 (a public mining exploration company listed on the TSX Venture Exchange Inc.). Mr. Larsen is also the President and CEO of NFX Gold Inc. since 1996 (a public gold exploration company listed on the TSX Venture Exchange Inc.) and Northfield Inc. (a public company currently undertaking a reorganization as an exploration company).

From 1992 to 1996 Mr. Larsen was President and C.E.O. of Northfield Minerals Inc. (re-named Northfield Inc.). During his tenure as President, Northfield graduated from the Alberta Stock Exchange to the Toronto Stock Exchange (1994), and completed equity financings totalling over $20 million. As Northfield pursued a South American exploration strategy, the board of directors took the decision in 1996 to spin-off Northfield's Canadian assets and created NFX Gold Inc., whereupon Mr. Larsen assumed his role as President and C.E.O.

Jean Lafleur, M. Sc., P. Geol. (OGQ) - Director

Mr. Lafleur is a Professional Geologist with 25 years of experience in various capacities, both in Canada and internationally, with a wide range of industry leading companies such as Newmont, Falconbridge, and Placer Dome. More recently, Mr. Lafleur worked with McWatters Mining Inc., a Quebec based junior exploration and mining company, where he was instrumental in the discovery of new ore reserves for the company's projects in the Val d'Or and Malartic mining camps. For the past two years, Mr. Lafleur has been a mineral exploration consultant (as President of PJLEXPL Mineral Exploration Inc.), leading teams in the search for gold, nickel and uranium, as well as an executive and technical advisor in a number of junior exploration companies, including Eloro Resources Ltd., Crowflight Minerals, Beartooth Platinum, Typhoon Exploration, American Bonanza Gold Corporation and Orex Exploration.

Paul Ankcorn - Director

Mr. Ankcorn has an honours bachelor of commerce degree and commenced his career in the accounting department of Gulf Canada from 1979 to 1986. Since then, he has been actively involved in the mining industry in various positions including treasurer, vice-president of finance, chief financial officer and president. In aggregate total, Mr. Ankcorn has served as an officer or director in approximately 25 public companies during the past 20 years. He is presently a director of NFX Gold Inc., Eloro Resources Ltd., and an officer of Richmond Minerals Inc.

Miles Nagamatsu, C.A. - Chief Financial Officer

Miles Nagamatsu is a Chartered Accountant with over 25 years of financial experience, including accounting, finance, insolvency, credit, lending, and special loans management. He is currently Chief Financial Officer of Lawrence & Company Inc., a private investment firm that invests in a portfolio of public companies and venture capital investments for its own account and manages various private and publicly traded investment products with over $600 million under management. He is also Chief Financial Officer of High Income Principal and Yield Securities Corporation, High Income Preferred Shares Corporation, Lawrence Enterprise Fund Inc., York Labour Fund Inc., Northfield Inc., NFX Gold Inc., Eloro Resources Ltd., Wavex International Inc. and Forsys Metals Corp.

Number of Shares Issued: 9,158,303

NO SECURITIES REGULATORY AUTHORITY OR STOCK EXCHANGE HAS APPROVED OR DISAPPROVED OF THE INFORMATION CONTAINED IN THIS PRESS RELEASE.

Contact Information

  • Champion Natural Health.com Inc.
    Thomas C. Larsen
    President of Champion
    (416) 818-4035
    or
    Champion Natural Health.com Inc.
    Jorge Estepa
    Secretary of Champion
    (416) 818-4035
    (416) 361-1333 (FAX)