Lydia Diamond Exploration of Canada Ltd.

Lydia Diamond Exploration of Canada Ltd.

March 10, 2009 19:03 ET

Lydia Diamond Exploration of Canada Ltd.: Election of New Board of Directors to Formulate Reactivation Strategy

TORONTO, ONTARIO--(Marketwire - March 10, 2009) - Lydia Diamond Exploration of Canada Ltd. ("Lydia Diamond") announces the election of a new board of directors at the special meeting held today consisting of the following individuals: Mervyn S. Ford, Andy Schweitzer, Monty Bloom, Larry Burton, Robin MacKnight and Adrian M.S. White. Mervyn S. Ford has been appointed Chairman and Andy Schweitzer has been appointed Acting Chief Executive Officer.

Lydia Diamond is currently dormant and subject to cease trade orders in Canada. The mandate of the new board of directors is to reactivate and recapitalize Lydia Diamond. The board of directors has commenced the process of reviewing the business, mineral property interests and affairs of Lydia Diamond with a view to formulating a reactivation strategy. Further announcements will be made on the status of these efforts.

For further information on the current status of Lydia Diamond and the backgrounds of the new management see the information circular dated February 10, 2009 filed on www.sedar.com.

No stock exchange, securities commission or other regulatory authority has reviewed or approved the contents of this news release.

Contact Information

  • Lydia Diamond Exploration of Canada Ltd.
    Andy Schweitzer
    Acting Chief Executive Officer
    (954) 331-4664