Lander Energy Corporation
TSX VENTURE : LAE.H

April 27, 2012 14:48 ET

Lander Energy Corporation Completes Management Changes and Closes Private Placement

QUESNEL, BRITISH COLUMBIA--(Marketwire - April 11, 2012) - Lander Energy Corporation ("Lander" or the "Company") (TSX VENTURE:LAE.H) wishes to announce that the election of Messrs. Peter Bernier, Dirk Tempelman-Kluit, Jason Hynes and Jim Miller-Tait and Ms. Susanne Bonn as directors of the Company has now been completed. Accordingly, Messrs. Dennis Crawford and Franco Aquila and Ms. Jill Wagman have ceased to be directors of the Company. Management wishes to thank each of them for their contributions to the Company. Additionally, Mr. Bernier has been appointed President & CEO and Ms. Bonn has been appointed CFO and Secretary of the Company.

Concurrently, the Company wishes to announce that it has closed its previously announced private placement of 12,000,000 shares at $0.06 per share. In addition, 499,500 shares were issued as a finder's fee. The securities are subject to resale restrictions that expire on August 12, 2012. The Company intends to use the proceeds of the private placement to pay off existing debt, and to provide the Company with working capital to enable it to move forward and find a qualifying transaction. The Company remains subject to the TSX Venture Exchange policies applicable to capital pool companies.

Effective on or about April 19, 2012, the Company's common shares will commence trading on the TSX Venture Exchange under the Company's new name, Prosper Gold Corp., under the trading symbol "PGX.H".

ON BEHALF OF THE BOARD OF DIRECTORS

Peter Bernier, President, CEO & Director

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
    Peter Bernier
    President & CEO
    (250) 992-6644