Cap-Ex Strengthens Board of Directors and Announces Name Change
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 03/04/13 -- Cap-Ex
Ventures Ltd. (TSX VENTURE:CEV)(FRANKFURT:XOV)(OTCQX:CPXVF) ("Cap-Ex"
or the "Company") is pleased to announce the appointment of Mr. Gary
Norris to the Board of Directors effective immediately.
Mr. Norris has spent over 30 years working for the Newfoundland and
Labrador Government including as the Clerk of the Executive Council
and Secretary to Cabinet. Mr. Norris has also held a number of other
senior Executive positions, including Assistant Deputy Minister of
Environment and Deputy Minister of Intergovernment Affairs
Secretariat. He is the current Executive Vice President Government &
Community Affairs for Alderon Iron Ore Corp., a leading iron ore
development company also located within the Labrador Trough. Mr.
Norris will help guide Cap-Ex through the development of its 100%
owned Block 103 Iron Ore Project and will provide advice with respect
to liaising with local, provincial and federal Governments. Mr.
Norris holds a Bachelor of Arts degree in Political Science and
Economics from Memorial University of Newfoundland.
"Gary will be an invaluable resource for us as we continue developing
our Block 103 Project," says Francois Laurin, President and CEO of
Cap-Ex. "His knowledge garnered from his days in the Provincial
Government and from working with Alderon is unsurpassed and I'm very
excited to have him join our team."
Cap-Ex has granted Mr. Norris, under the terms of its stock option
plan, options to purchase up to 150,000 common shares at a price of
$0.27. The options are subject to vesting over a two year period and
have an expiry date of February 28, 2018.
Cap-Ex is also pleased to announce that its name has changed to
Cap-Ex Iron Ore Ltd. Cap-Ex has renamed itself to properly reflect
its focus on the development of its Block 103 Iron Ore Project.
Cap-Ex also announces that it has changed its registered office to
its St. John's office in Newfoundland, Canada. The registered office
is now Suite 201, Baine Johnson Centre, 10 Fort William Place, St.
John's, NL, Canada, A1C 1K4.
Cap-Ex is a Canadian listed company, focused on the development of
its Block 103 Iron Ore Property in the Labrador Trough, near the
mining town of Schefferville, Quebec. The Block 103 Property is
strategically located close to an existing railway, which can provide
a direct link to a shipping port, and is adjacent to New Millennium
Iron Corp-Tata Steel LabMag and KeMag deposits and the New
Millennium-Tata oxide deposits to the east.
For additional information please visit the Company's website at
CAP-EX IRON ORE LTD.
On behalf of the Board
Francois Laurin, President and CEO
Cautionary Note Regarding Forward-looking Information
This press release contains "forward-looking information" within the
meaning of applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements with respect to the development potential of the Company's
Block 103 iron ore property, future exploration plans and the
expected timing for completion of an NI 43-101 mineral resource
estimate and a preliminary economic assessment. Generally,
forward-looking information can be identified by the use of
forward-looking terminology such as "plans", "expects" or "does not
expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would", "might"
or "will be taken", "occur" or "be achieved". Forward-looking
information is subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially different
from those expressed or implied by such forward-looking information.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking information. The
Company does not undertake to update any forward-looking information,
except in accordance with 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 RELEASE.
Cap-Ex Ventures Ltd.
1-866-683-8030 ext. 232
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