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HuntMountain Resources Ltd. ("HuntMountain") (OTCBB OTCBB
See OTC Bulletin Board (OTCBB). :HNTM HNTM Holland's Next Top Model ) is delighted to announce that it entered into a
Letter of Intent ("LOI") with Sinomar
Capital Corp. ("Sinomar") (TSX
VENTURE:SMM.P), a Canadian Capital Pool
Corporation, pursuant to which Sinomar will acquire
100% of the shares of HuntMountain's Argentine
subsidiary, Cerro Cazador S.A. (CCSA) in a
Reverse Takeover Transaction. The transaction is intended to be Sinomar's Qualifying Transaction as defined in Policy 2.4
of the TSX Venture ExchangeTSX Venture Exchange
Originally called the Canadian Venture Exchange (CDNX), this was a
result of the merger of the Vancouver and Alberta stock exchanges. The goal
of TSX Venture Exchange is to provide venture companies with effective access
to capital while protecting investors.
..... Click the link for more information. (the "TSXV") and is therefore
subject to regulatory approval. The LOI contemplates the issuance of
29,118,507 common shares and 20,881,493 convertible preferred shares of Sinomar, all with a deemed value of CDN (Content
Delivery Network) A system of
distributed content on a large intranet or the public Internet in which copies
of content are replicated and cached throughout the network. $0.30 per share. The total deemed value for the
transaction is CDN$15,000,000. Upon completion of the transaction, HuntMountain will own a majority controlling interest in Sinomar.
The LOI also contemplates that Sinomar will raise, concurrently with the closing of the Acquisition a
minimum of CDN$1,500,000 and a maximum of CDN$3,000,000 (the
"Offering") by way of a combination of a short form offering
document and private placement at a price of CDN$0.30 per share.
It is proposed that, upon completion of the Qualifying Transaction, a new
board of directors for Sinomar will be nominated or
elected. The new board will consist of at least six directors, four of whom
are to be nominees of HuntMountain and two of whom
will be nominees of Sinomar. The nominees of Sinomar are David Bikerman and
Andrew M. Gertler. HuntMountain
has nominated Tim Hunt, Darrick Hunt, Matthew
Hughes and Bryn Harman. The following are the proposed directors and
officers:
President, Chief Executive Officer and Chairman of the Board of Directors -
Tim Hunt
Tim Hunt is presently the CEO (1) (Chief Executive Officer) The highest
individual in command of an organization. Typically the president of the
company, the CEO reports to the Chairman of the Board. , President and Chairman of the board of HuntMountain. Mr. Hunt is the founder and president of
Spokane, Washington-based Huntwood Industries, one
of the largest building products manufacturers in the Western United States Noun 1. western United States - the region of
the United States lying to the west of the Mississippi River
West
Santa Fe Trail - a trail that extends from Missouri to New Mexico; an
important route for settlers moving west in the 19th century . Mr. Hunt has led the development of Huntwood Industries over the past 20 years - taking the
business from a start-up venture to a significant middle-market enterprise.
President and Director - Matthew Hughes
Matthew J. Hughes is a geologist with twenty years of experience in the
discovery, exploration and mining of precious metal projects in the United
States, Argentina, China, Brazil and Uzbekistan. Mr. Hughes has been directly
responsible for the discovery of numerous precious and base metal
occurrences, including the producing Mina Martha high-grade silver lode in
Santa Cruz, Argentina. Mr. Hughes has held senior level positions with Mundoro Mining, Inc., Yamana
Resources Inc., Platero Resources Inc and Kinross Candelaria Mining Co. Matt has also provided geological
services for Silver Standard Resources, Minas Buenaventura, NERCO NERCO North East Recorder Orchestra (England) Exploration and Atlas Precious Metals. He
received his Bachelor of Science Noun 1. Bachelor of Science - a bachelor's
degree in science
BS, SB
bachelor's degree, baccalaureate - an academic degree conferred on
someone who has successfully completed undergraduate studies degree in geology from the University of Oregon The University of Oregon
is a public university located in Eugene, Oregon. The university was founded
in 1876, graduating its first class two years later. The University of Oregon
is one of 60 members of the Association of American Universities. .
Chief Financial Officer, Secretary and Director - Bryn Harman, CFA (Computer
Fraud and Abuse Act of 1986) Signed into
law in 1986, the CFA was a significant step forward in criminalizing
unauthorized access to computer systems and networks. The Act applies to
"federal interest computers" that include any system used by the
U.S.
Mr. Harman is the Chief Financial Officer of HuntMountain. Mr. Harman has fifteen years of experience
in corporate finance and investment roles in Canada and the United
States The United States and Canada
share a unique legal relationship. U.S. law looks northward with a mixture of
optimism and cooperation, viewing Canada as an integral part of U.S. economic
and environmental policy. . Mr. Harman was the Director of Research for a national investment management
firm, a senior equity analyst for a small cap investment advisory firm, a
Listings Officer with the Alberta Stock Exchange Alberta Stock Exchange
See Canadian Venture Exchange (CDNX). and a corporate finance consultant for a
Calgary-based Chartered Accounting firm. Mr. Harman is a Chartered Financial
Analyst Chartered Financial Analyst
(CFA)
An experienced financial analyst who has passed examinations in
economics, financial accounting, portfolio management, security analysis, and
standards of conduct given by the Institute of Chartered Financial Analysts. and holds a Bachelor of Commerce The Bachelor of Commerce
is a bachelor's degree in business management, accounting and economic
fields. The degree is also known as the Bachelor of
Commerce and Administration (BCA). degree from the University of
Saskatchewan The University of Saskatchewan (U of S) is a coeducational public
research university located on the east side of the South Saskatchewan River
in Saskatoon, Saskatchewan, Canada. The University is celebrating its
centennial year in 2007. .
Director - Darrick Hunt, CPA (Computer Press Association, Landing, NJ) An earlier membership
organization founded in 1983 that promoted excellence in computer journalism.
Its annual awards honored outstanding examples in print, broadcast and
electronic media. The CPA disbanded in 2000.
Darrick Hunt is a Director of HuntMountain
and the Chief Financial Officer of Huntwood
Industries. Mr. Hunt holds a license as a Certified Public
Accountant Certified
Public Accountant (CPA)
An accountant who has met certain standards, including experience,
age, and licensing, and passed exams in a particular state. under the Board of Accountancy of Washington
State and has a Bachelor's in Business Administration from Gonzaga
University.
Director - David Bikerman
David Bikerman is a Director of Sinomar.
Mr. Bikerman has worked in the mining field for
over twenty years and has experience in all aspects of mining enterprises
including exploration, operations and management. He is the principal of Bikerman Engineering & Technology Associates, Inc.
(BETA), a private company, which since 1997 has offered services to the
mining industry in financial modeling; exploration and geologic model
preparation; geo-statistical and reserve analyses; 27 environmental plans;
project feasibility; and project design and management. Mr. Bikerman holds two degrees in mining engineering,
including Engineer of Mines (1995) and Master of Science in mining
engineering (1985) from Columbia University. From June, 2005 to August, 2007,
he was President of Sino Silver Corp. Since July, 2006, Mr. Bikerman has been a director of Colombia Goldfields Ltd.,
a TSX listed company. Since July, 2007, Mr. Bikerman
has been President, Chief Executive Officer and a director of Megastar
Development Corp., a TSXV listed company. From August, 2006 to July, 2007, he
was President and director of East Delta Resources Corp., an US listed
company with gold and other metal projects in China.
Director - Andrew Gertler
Andrew M. Gertler is a Director of Sinomar. He is a principal and Vice-President of Lester
Asset Management Inc., a discretionary money management and advisory firm
where he engages in portfolio management, merger and acquisition activities,
corporate reorganization and private equity investments. Mr. Gertler received his Bachelor of Commerce (Finance)
degree from McGill University in 1982 and in 1984 received his Master of
Business Administration from the University of Western
Ontario Western is one of Canada's
leading universities, ranked #1 in the Globe and Mail
University Report Card 2005 for overall quality of education.[2]
It ranked #3 among medical-doctoral level universities according to Maclean's
Magazine 2005 University Rankings. . Mr. Gertler was a director of ProMetic Life Sciences Inc., a biopharmaceutical and TSX
listed corporation, from May, 2003 to May, 2005. Since August, 2004, he has
been a director of Neutron Enterprises Inc., which supplies web-based 28
stock market stimulation and training products, and was Chief Executive
Officer until June, 2006. Mr. Gertler has also
been, since May, 2003, a director of Avicena Group,
a biotechnology company listed in the US; and a director, since June, 2007,
of Zi Corporation, a technology company providing
software products for communication devises and listed on the TSX.
Mr. Tim Hunt, Chairman and CEO of HuntMountain,
commented, "The proposed Qualifying Transaction would provide access to
the world's best capital market for mineral exploration companies. With
better access to capital we believe that can fully realize the potential of
our Argentine exploration projects."
HuntMountain Resources Ltd. is a U.S.-based junior
exploration company engaged in acquiring, exploring and developing precious
and base metals properties throughout North and South America. The Company
currently controls and operates projects in Santa Cruz Argentina, Chihuahua
Mexico, Nevada USA, and Quebec Canada.
This news release may contain forward-looking statements within the meaning
of Section 27A of the Securities Act and Section 21E of the Exchange Act.
Forward-looking statements are inherently subject to risks and uncertainties,
many of which cannot be predicted with accuracy, and some of which might not
even be anticipated. This news release is neither a prospectus nor an offer
to sell securities or stocks in the company. It is intended for informational purposes only.
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