Geostar Metals Inc.

Geostar Metals Inc.

November 24, 2006 18:18 ET

Geostar Announces Name Change and Interim CFO

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 24, 2006) - Geostar Metals Inc. (the "Corporation") (TSX VENTURE:GOS) is pleased to announce that it has received final approval from the TSX Venture Exchange (the "Exchange") to change its name from "Geostar Metals Inc." (symbol:GOS) to "Skana Capital Corp." ("Skana"). The new name more accurately reflects the business nature of the Corporation. The common shares of Skana will commence trading on the Exchange under the new trading symbol SKN at the opening of the market on November 27, 2006.

The Corporation is also pleased to announce that Michael Reimann has agreed to serve, on an interim basis, as the Corporation's Chief Financial Officer. Mr. Reimann was previously CEO of the Corporation but recently resigned that position. Mr. Reimann continues to serve on the Board and remains actively involved in the daily affairs of the Corporation. He will act as CFO as long as required for the Corporation to complete the orderly development of its executive team.

About Skana Capital Corp.

Skana is listed on Tier 2 of the Exchange as an Investment Issuer. Skana carries on business as a merchant bank and makes strategic investments in oil and gas and other resource-based opportunities offering capital appreciation potential. In particular, Skana seeks equity participation in situations to which management of Skana believes it can potentially add value through its financial involvement and management expertise.

The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the contents of this press release.

This news release contains certain statements that may be deemed "forward-looking statements". All statements, other than statements of historical fact, that address events or developments that Geostar expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Geostar believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploration and production successes or failures, continued availability of capital and financing, inability to obtain required shareholder or regulatory approvals, and general economic market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Geostar's management on the date the statements are made.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Geostar Metals Inc.
    Neil Halldorson
    President and CEO
    (604) 669-4899
    (604) 685-2345 (FAX)