Lander Energy Corporation
TSX VENTURE : LAE.H

April 27, 2012 14:49 ET

Lander Announces Board of Director Changes, Private Placement and Corporate Continuance

SURREY, BRITISH COLUMBIA--(Marketwire - March 2, 2012) - Lander Energy Corporation (the "Company") (TSX VENTURE:LAE.H) is pleased to announce that the Company is convening a meeting of its shareholders to consider the election of new directors as described below, a corporate continuation of the Company to the Province of British Columbia and a change of the name of the Company to a name approved by the new board of directors. These transactions are subject to regulatory approval.

It is proposed that all current directors except for Mr. David Wood will resign as directors and five new directors, namely Peter Bernier, Dirk Tempelman-Kluit, Susanne Bonn, Jason Hynes and Jim Miller-Tait will be nominated for election at the meeting, subject to regulatory approval. In connection with this change in board membership, all members of the board have conditionally agreed to sell a total of 475,000 common shares to the incoming directors and officers. Such transferred shares are currently held in escrow pursuant to the policies of the TSX Venture Exchange and will remain in escrow following the transfer. The transfer is subject to regulatory approval and is conditional upon the completion of the other matters discussed herein.

Mr. Peter Bernier has more than 34 years experience in mining exploration and project management. Mr. Bernier was the founder, President & CEO of Richfield Ventures Corp, and was responsible for building, leading and managing the Richfield team, as well as obtaining financing for the company until 2011.

Dr. Dirk Tempelman-Kluit, Ph D FGAC has more than 45 years experience working in both British Columbia and the Yukon. Dr. Tempelman-Kluit was previously a director of the Geological Survey of Canada's Cordillean Division, and more recently, the VP of Exploration and Director of Richfield Ventures Corp. from 2004 to 2011.

Ms. Susanne Bonn has more than 30 years in financial administration, accounting and management in both the public and private sectors. Ms. Bonn was the Chief Financial Officer of Richfield Ventures Corp. from 2004 to 2011.

Mr. Jason Hynes, B Sc, MBA, was an investment banker at National Bank Financial from 2005-2012, most recently as a Director in the Global Metals & Mining group, where he advised the boards and senior management teams of mining companies on mergers & acquisitions and on implementing financing strategies.

Mr. Jim Miller-Tait, P. Geo., has over 35 years of continuous exploration, development and production in underground and open pit projects. He has worked extensively in North America, Mexico and Bolivia in exploration to production operations in gold, base metal and diamond projects.

The Company also announces that in connection with and as a condition precedent to the transactions described above it is proposing to complete a private placement of up to 12,000,000 common shares at a price of $0.06 per share to raise gross proceeds of up to $720,000. Proceeds of the private placement will be used to pay off existing debt, and to provide the Company with working capital that will enable it to seek out a qualifying transaction. Finder's fee(s) will be paid in compliance with TSX Venture Exchange-NEX policies and regulations. The private placement is subject to regulatory approval. Shares issued pursuant to the private placement will be subject to a 4 month hold period pursuant to applicable securities laws.

NEITHER 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 NEWS RELEASE.

Contact Information

  • Lander Energy Corporation
    David Wood
    President & CEO
    (604) 720-7307