Orsa Ventures Corp.

Orsa Ventures Corp.

September 20, 2011 15:10 ET

Orsa Ventures Announces Change of Directors

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 20, 2011) - Orsa Ventures Corp. ("Orsa" or the "Company") (TSX VENTURE:ORN) wishes to advise that Mr. Robert Ferguson has resigned as a Director of the Company. The Board of Directors of Orsa would like to thank Mr. Ferguson for his participation and support throughout his tenure and wish him all the best in future endeavors.

Furthermore, the Company is also pleased to announce that Mr. Bruce Fair and Mr. Ray Pruitt have been appointed to the Board of Directors.

Mr. Fair is President and a Director of Mench Capital Corp., a financial services and capital markets consulting company based in Vancouver, British Columbia. Mench has participated in and/or originated the formation of over $300M in private and public equity transactions. Mr. Fair is also a Senior Vice President, Western Canada, for CadoBancorp Ltd., with nationally syndicated financial products including the Maple Leaf Short Duration Flow-Through Share Limited Partnerships and a Director of Maple Leaf 2011 Energy Income Limited Partnership. Mr. Fair is also a Director of Cliffmont Resources Ltd. and a Principal with Sky Energy Capital, specializing in the financing of renewable energy projects.

Mr. Fair was a co-founder and is the President and a Director of Cordilleran Resources Management Group specializing in the formation, management and administration of syndicated Super Flow-Through Share Limited Partnerships. He was also a former Director of Richfield Ventures Corp., a junior gold mining company in British Columbia which was acquired by New Gold Inc. through a plan of arrangement valued at approximately $550 million. Mr. Fair holds a Bachelor of Arts (Honours) from the University of Saskatchewan.

Mr. Pruitt currently practices law in Victoria, British Columbia. His experience in mineral exploration encompasses a broad range of activities from involvement in grassroots exploration programs personally staking claims to negotiating mineral concessions in foreign jurisdictions. Mr. Pruitt's legal practice included advising mineral exploration companies on regulatory compliance, attending to requisite disclosure filings and reviewing/drafting various industry specific agreements.

Mr. Pruitt's career history includes time spent as a registered representative with an options trading designation at a major Canadian brokerage firm. This experience, when combined with his specialized knowledge in securities law gives Mr. Pruitt an in-depth appreciation and understanding of the nuances of the public securities markets and the investment banking/brokerage industry. His advanced legal training, combined with over thirty years of legal and business experience in a variety of entrepreneurial endeavors, provide Mr. Pruitt with the solid foundation necessary to undertake the obligations of corporate governance and provide sound commercial/legal advice. Mr. Pruitt holds a Masters at Law degree from Osgoode Hall and is a member of both the Alberta and British Columbia Law Societies.

Pursuant to their appointments, the Company has granted Mr. Fair and Mr. Pruitt 200,000 stock options each at a price of $0.16 per share.

In addition a further 800,000 stock options at a price of $0.16 were granted to directors and officers of the Company in accordance with the policies of the TSX Venture Exchange and the terms of the Company's Stock Option Plan.

About Orsa

Orsa Ventures Corp. is a junior company focused on the exploration for, and development of, gold-silver-copper properties in the western United States.

On behalf of the Board of Directors,

Linda Thorstad, President and Chief Executive Officer


This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur, and include, without limitation, statements regarding the Company's plans with respect to the closing of the Financing and the use of proceeds thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.

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 release.

Contact Information

  • Orsa Ventures Corp.
    Linda Thorstad
    President and Chief Executive Officer
    604.558.0087 (FAX)