Infinity Alliance Ventures Inc.

November 17, 2008 20:08 ET

Infinity Alliance Ventures Inc. Announces Name Change to CBM Asia Development Corp.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2008) - Infinity Alliance Ventures Inc. (the "Company") (TSX VENTURE:TCF)(FRANKFURT:IY2) is pleased to announce that it has received regulatory approval to change its name to CBM Asia Development Corp. effective November 18, 2008. The Company will continue trading on the TSX Venture Exchange under the symbol TCF.

The Company acquired its wholly-owned operating subsidiary, CBM Asia Development Corp., on August 12, 2008 and continues CBM Asia's exploration activities in Indonesia. Management feels it is in the best interest of the Company to change its name in order to reflect the nature of its business, as its wholly-owned operating subsidiary has been conducting business under the name CBM Asia Development Corp. since August 2006 and has a well established reputation in the Indonesian coalbed methane community.

President Al Charuk comments: "We are pleased to adopt CBM Asia Development Corp. as the name of our publicly traded parent company. We are excited and optimistic about the opportunities that exist for coalbed methane exploration in Indonesia, and we feel this name better aligns with the nature of our business. Not only does it clearly state that we deal in coalbed methane, it tells the public where we are positioned geographically, and that we are in this business from the ground up, developing the opportunities and technologies to extract this resource and deliver it to the global energy market."

In order to distinguish the parent company from its operating subsidiary, the subsidiary company will conduct business under the name CBM Asia Operations Corp. effective November 18, 2008. Management feels this new name will maintain the Company's existing level of recognition in the coalbed methane community, as well as clearly define the role of the subsidiary.


ALAN T. CHARUK, President & CEO

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

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

Contact Information

  • CBM Asia Development Corp.
    Alan T. Charuk