Ribbon Capital Corp.

December 01, 2006 18:09 ET

Ribbon Capital Corp. Announces Change of Directors and Granting of Options

TECUMSEH, ONTARIO--(CCNMatthews - Dec. 1, 2006) - Ribbon Capital Corp. (TSX VENTURE:RBN) announces that Mr. Pete Wanner and Mrs. Myra Bongard have resigned from the Board of Directors effective today. The company would like to thank Mr. Wanner and Mrs. Bongard for their service and guidance as founding Directors of the company.

The company is pleased to announce the appointment of Mr. Martin Bernholtz, C.A. to its Board of Directors effective immediately. Mr. Bernholtz will also serve on the Board's Compensation Committee. Mr. Bernholtz is currently Vice President of Finance with Kerbel Group Inc. He has served as a director of various public companies, which currently include Covalon Technologies, RYM Capital and RMM Ventures. Mr. Bernholtz graduated with a bachelor degree in Business Administration from York University in 1981 and became a Chartered Accountant in 1984. His business / accounting background and public market experience will be a true asset to the company.

The company also announces that an aggregate of 3,033,333 options to purchase common shares of the company have been granted to the directors, officers, a consultant and employees. The options are exercisable at $0.15 per share and expire on December 1, 2008.

About the Company:

Ribbon Capital Corp. completed its qualifying transaction on September 25th, 2006 and now operates under the trade name of SELECTCOR. The official name changed will be voted on at the upcoming shareholder's meeting schedule for January 12th, 2006.

The company, through its subsidiaries, is in the business of providing highly-valued telecommunication products and services to the ever-growing credit-challenged / sub-prime consumer market. Focused on launching new offerings in high-growth areas such as wireless and IP, the company's long-term objective is to aggregate a large community of ultra-loyal users. The company markets to consumers through its nation-wide retail distribution channel. In addition to having long-term relationships with Canada's top carriers, the company maintains its own telecom network and fulfillment infrastructures. Profit 100 ranked Selectcor Canada's 6th fastest-growing company in 2006.

This news release contains projections and other forward-looking statements regarding future events. Such statements are predictions, which may involve known and unknown risks, uncertainties and other factors, which could cause the actual events or results and objections to differ materially from those expressed. The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.

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

Contact Information