Goldmarca Limited

Goldmarca Limited

November 21, 2006 14:09 ET

Goldmarca appoints Mr. Mark L. Kesselman to the Board of Directors

PANAMA CITY, REPUBLIC OF PANAMA--(CCNMatthews - Nov. 21, 2006) - Goldmarca Limited ("Goldmarca") (TSX VENTURE:GML)(PINK SHEETS:GMLCF) is pleased to announce that Mr. Mark L. Kesselman has been appointed to the Board of Directors of Goldmarca.

Mr. Kesselman is President of Eurofinance, Inc. a merchant bank headquartered in NYC, NY; specializing in the financing of small to medium sized companies that provides financial and strategic advice to corporate and government based clients.

From 1974 to 1992, Mr. Kesselman served in a number of senior management positions at Citibank N.A. (Citigroup) including the following: Managing Director of the International Corporate Finance Group, Managing Director of Global Mergers & Acquisitions, and Managing Director and Head of the Corporate Finance Group of The Citibank Private Bank (Switzerland).

From 1979 to 1984, Mr. Kesselman was Vice President at Allen & Company Inc., a merchant banking boutique headquartered in New York specializing in media, telecommunications, and venture capital.

Mr. Kesselman holds a MBA from Columbia University, Graduate School of Business, and a BS in Theoretical Physics from the City University of New York. He is a member of numerous professional organizations, including but not limited to the World Economic Forum and the Asia Society. He presently serves on the Board of Directors for both public and private companies.

Mr. Robin Slaughter, Goldmarca's President and CEO commented: "We are privileged to have a person of Mr. Kesselman's character and integrity join as an Independent Director to the Goldmarca Board of Directors. This will provide Golmdarca with access to a wealth of experience in the financing sector and assist our corporate governance efforts. Mr. Kesselman will be appointed as Chairman of the Audit Committee forthwith. We graciously welcome Mr. Kesselman to the Board of Directors and look forward to his leadership and ongoing contributions to Goldmarca."

The Board of Directors is pleased to announce the granting of 890,000 options for a period of three years that are priced at $0.70 per share. The options, each of which is exercisable to acquire one common share of Goldmarca at $0.70, expire on November 21, 2009. The options grant is subject to approval by the TSX Venture Exchange.

On behalf of the Board of Directors,

Robin Slaughter, President and Chief Executive Officer

ABOUT GOLDMARCA: Goldmarca Limited (TSX VENTURE:GML) is an international mining company that is engaged in adding value to gold and base metal projects with a primary focus on assets in South America and Australia. By applying unique technology and expertise, Goldmarca is focused on delivering a low-cost option to develop resource projects that can provide a one-year payback of all capital costs. Goldmarca is also listed on the Frankfurt and Berlin exchanges under the symbol "GDQ". For more information, please visit

Safe Harbor Statement:

Statements contained in this release that are not historical facts are forward-looking statements which involve risk and uncertainties, which could cause actual results to differ materially from those, expressed in forward-looking statements including the following: changes in economic or environmental conditions and the Company's ability to execute its business model and strategic plans. The Company relies on litigation protection for forward-looking statements.

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

Contact Information

  • Goldmarca Limited
    Robin Slaughter
    President & CEO
    (507) 66714370
    Goldmarca Limited
    Nick Demare
    Director & CFO
    (604) 685-9316
    Pro-Edge Consultants Inc.
    Fred Cowans or Tracy Weslosky
    Managing Partners
    1-866-544-9622 or (416) 581-0177