Urban Select Capital Corporation
TSX VENTURE : CH

Urban Select Capital Corporation

February 14, 2012 08:30 ET

Granja Gold Inc. Announces Management Team

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 14, 2012) - Urban Select Capital Corporation (TSX VENTURE:CH) (the "Company") is pleased to announce that Granja Gold Inc. ("Granja"), a wholly-owned subsidiary of the Company, announced the composition of its management team led by its founder, Juan Vegarra.

Juan Vegarra, MBA; Chairman, CEO, Founder

Mr. Vegarra is a native of Peru, and has over 15 years of experience in the Mining and Venture Capital Industry. Founding CEO and Chairman of Vena Resources (TSX VENTURE:VEM) in 2003, he led the company to build a polymetallic mine, raised $40 million and signed Joint Venture agreements with Gold Fields, Cameco and Trafigura. Prior to Vena, Mr. Vegarra was a director of worldwide sales and marketing for Microsoft (NASDAQ:MSFT). Mr. Vegarra received an MBA from the University of Washington and a B.S.E.E. from the University of Maryland.

Dr. Klaus Zeitler, PhD; Director

Dr. Zeitler has been involved in the mining industry for over 30 years. He founded and was CEO of Metall Mining, later Inmet Mining Corporation (TSX:IMN), with assets of over $4B and base metal and gold mines throughout the world. Dr. Zeitler joined Teck Resources (NYSE:TCK) in 1997 as Senior Vice President, overseeing exploration and development in Peru, Mexico and the USA. Since retiring in 2002, in addition to being President and CEO of Amerigo Resources Ltd. (TSX:ARG), he was also Chairman of Candente Copper Corp. (TSX:DNT) and Rio Alto Mining Limited. Dr. Zeitler is a member of the Canadian Institute of Mining and Metallurgy and the Prospectors and Developers Association.

Richard Barclay; Director

Richard has a history of +40 years as a mining entrepreneur. To February 2012 he was the Executive Vice President and Director of China Minerals Mining Corporation (CMMC) including the founding President and CEO from 2006 to 2011 (TSX VENTURE:CMV). Richard was the founding CFO and Director of Adriana Resources Inc. (TSX VENTURE:ADI) 2004 to 2010, a company with a +10 billion ton iron deposit in Quebec in joint venture and development with WISCO of China and a Brazilian iron ore port facility in development. He was the founding President, CEO and Director of Eldorado Gold Corporation (TSX:ELD)(NYSE:EDO) from 1992 to 1999. A co-founder of Bema Gold Corporation a TSX and NYSE listed intermediate gold producer, he served as Chief Financial Officer and Director from 1975 to 1992. Bema was acquired by Kinross Gold Corp. (TSX:K)(NYSE:KGC) in April 2007.

David Bent, P.Geo; VP of Explorations

Mr. Bent has over 30 years of mining experience and extensive knowledge of exploration for base and precious metals. At Noranda he played an integral role in the Real de Angeles discovery, which was, at one time, the second largest Ag producer in the world, and the Antamina (Cu-Zn) mine which is expanding from 70k tpd to 120k tpd.

Miguel Grau M., LLB; Director

Mr. Grau has extensive experience in the Peruvian Mining Industry. He was a director of Antamina until 2005 and Chairman of Minera Milpo 1999-2002, one of the largest Peruvian zinc producers. In addition he is a member of the board for Bear Creek Mining and is associated with companies such as Rio Tinto and Xstrata in Peru.

Jose Roberto Romana Letts; Director

Mr. De Romana, a native of Peru, most recently was a senior executive for Volcan, one of Peru's largest mining companies. He studied in the US and holds a degree in Management.

Jas Hayre, CA; Advisor

Mr. Hayre is a Director of Urban Select Capital Corp. and chartered accountant with over 20 years of experience in public and private practice advising clients on cross-border tax issues. Jas Hayre is also a Managing Director of Abacus Private Equity. Prior to joining Abacus he was with C2 Global Solutions, and was a tax partner and leader of the international tax services group for Ernst & Young, LLP in Vancouver.

Min Kuang, Advisor

Min Kuang is the Chief Executive Officer of Urban Select Capital Corp. (TSX VENTURE:CH). Ms. Kuang has over 15 years experience in managing public companies, mergers and acquisitions, business development, and investment management. Ms. Kuang is the founder and Chief Executive Officer of Asia Select Asset Management Inc. in Canada, and the Chief Executive Officer of Asia Select Investment Fund Inc., a private equity firm established in April 2007, where she is responsible for equity investments, mergers and acquisitions, and taking companies public. Ms. Kuang received an M.B.A. from Lawrence Technology University in Michigan and a B.A. degree from China.

Granja Gold Inc. has closed its working capital private placement round for aggregate gross proceeds of $150,000 through subscription receipts for the acquisition of Vena Resources Inc.'s (TSX:VEM) 100%-owned interests in Granja de Oro SAC, a Peruvian company controlled by Vena. Each Subscription Receipt will automatically convert into one common share of Granja Gold Inc., for no additional consideration, at 12:00 p.m. (Vancouver time) on the date that is two business days following the effective date of the Company's previously announced plan of arrangement. Subscription proceeds will be held in trust until the conversion time. In the event that the conversion time does not occur by 5:00 p.m. (Vancouver time) on April 30, 2012, all subscription proceeds will be returned to subscribers and the subscription receipts will be cancelled.

The gross proceeds of the offering will be used by Granja for the completion of previously announced transaction with Vena, and for working capital and general corporate purposes.

We seek Safe Harbor.

ABOUT URBAN SELECT

Urban Select Capital Corporation is global investment management, financial advisory and private equity firm focused on investing growth capital into private and public companies in a broad range of sectors including renewable energy, natural resources, chemicals, agriculture and consumer retail services. Urban Select's management team is composed of investment professionals combining an Asian background with Western education and extensive experience in investment banking, venture capital and fund management in Canada, China and the U.S.

Caution Regarding Forward-Looking Statements - This news release contains certain forward-looking statements, including statements regarding the business and anticipated financial performance of the Company, including with respect to completion of the Plan of Arrangement, the entering into of a Definitive Agreement, completion of the Financing, completion of the Acquisition and the anticipated results thereof. These statements are subject to a number of risks and uncertainties. Actual results may differ materially from results contemplated by the forward-looking statements. There is no guarantee that any of the Plan of Arrangement, the entering into of the Definitive Agreement, the Acquisition or the Financing will be completed as proposed or at all. The Plan of Arrangement remains subject to approval of the Company's shareholders, the Supreme Court of British Columbia and the TSX Venture Exchange. The Acquisition is subject to completion of the Plan of Arrangement, execution of a Definitive Agreement and completion of the Financing, among other things. When relying on forward-looking statements to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and should not place undue reliance on such forward-looking statements. The Company does not undertake to update any forward looking statements, oral or written, made by itself or on its behalf except as required by law.

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

  • Urban Select Capital Corporation
    David Yoo
    Chief Financial Officer and Managing Director
    (604) 689-0618 or Toll Free: 1-866-689-0618
    (604) 689-0628 (FAX)
    www.urbanselect.com