Vancouver, British Columbia – April 25th, 2008 – Wyn Developments Inc. (the “Company” or “Wyn”) announces Daniel Kesonen, Rick Timcke, Pieter Danielsson, Ian Klassen, Craig Robson and Dennis Espadilla have agreed to become Wyn Metals Inc (“Wyn Metals”) new management team and lead the company upon shareholder approval of the proposed mineral exploration asset 'spin-out' at the Company's Annual General and Special Meeting April 20th, 2008.
Upon said shareholder approval, Wyn Metals will proceed with a private placement financing consisting of 10,000,000 units and 3,000,000 flow through units at a price of $0.10 per unit for gross proceeds of up to CAD $1,300,000. Each unit will consist of one common share and one share purchase warrant exercisable for two years at the price of $0.15 per share. Each flow through unit will consist of one flow through share and one share purchase warrant exercisable to purchase one non-flow through share for a period of two years at the price of $0.15 per share. A total of $600,000 of the proceeds will be reserved for exploration expenditures on resource exploration projects including the Company’s Thrust Project, a portion will be used to fund the costs of the arrangement and the balance for general working capital and general and administrative expenditures.
It is the intention of Wyn Metals’ new management to seek a listing for Wyn Metals shares on a recognized Canadian stock exchange within 120 days of the effective date of the arrangement.
Shareholders of record on April 2nd, 2008 are entitled to vote on the resolutions of the Company’s Annual General and Special meeting, and, upon approval, Wyn shareholders as of the effective date (to be determined), will receive 1 new share in Wyn Metals for 11 existing shares of Wyn Developments, and Wyn Developments will change its name to Canada Gas Corp. and consolidate its share capital at a ratio of 5 old for 1 new share.
No assurance can be given that the Company’s shareholders will approve the arrangement or restructurings, that the intended private placement will be completed, or that Wyn Metals will obtain a listing on a recognized exchange.
All of the above is subject to court, shareholder, and regulatory approval.
THE WYN METALS INC. MANAGEMENT TEAM
Albert (Rick) Timcke
Chair and Director
Mr. Timcke has more than 16 years experience in the public equity markets and has an expansive working knowledge of Canadian-based resource issuers. Mr. Timcke entered the public equity markets industry in 1990 in a position with the Dow Jones Company, with a specialization in early-stage markets. Over the next 7 years Mr. Timcke gained additional knowledge on the bond, money market and foreign exchange markets. He ended his career at Dow Jones specializing in the junior equity markets. In 1997, Mr. Timcke became Vice President of Corporate Development for a Canadian-based and publicly traded resource issuer and was responsible for raising significant financing for this company for exploration and corporate development activities. In 1999, Mr. Timcke became President, CEO and Director of a U.S. publicly listed company. In this position, Mr. Timcke raised capital for corporate expansion, led company operations and
successfully sold the company in 2002. In the past 5 years, Mr. Timcke has raised capital for resource companies focused on mineral exploration and mine development.
Daniel Kesonen
President and Chief Executive Officer, Director
Mr. Kesonen is currently Chairman and Director of Wyn Developments Inc and the current Managing Director of RLK Investment Group, an international investment and venture capital corporation, with offices in Florida and Zurich, Switzerland. He is Chair & CEO of Nevtah Capital Management Corp., an oil and gas technology company trading on the OTC market. Mr. Kesonen is President & CEO of Pegasus Pharmaceuticals Inc., an advanced technology company for early, non-invasive screening of heart disease trading on the OTC market. Prior to his direct involvement in venture companies he served in the role of Vice President with Shearson Lehman Brothers, E.F. Hutton and A.G. Edwards & Sons. Mr. Kesonen was instrumental in bringing the Company and its Northeast British Columbia oil and gas projects to the attention of European institutional investors.
Pieter Danielsson
Director
Mr. Danielsson has in excess of 29 years of banking and international business experience with Nordfinanz Bank, Citicorp Private Bank, Zurich, Interallianz Bank AG / M.M. and Warburg Bank (Schweiz) AG, among others. He is currently CEO and Chair of the Advisory Board of Quantum Economic Development Ltd, serves as Chair of Danco Securities Ltd., Zurich, Avis Financial Corporation, New York, and is Deputy Chair of Tola Solar AG, Vienna.
Ian Klassen
Director
Mr. Klassen currently serves as President of Grande Portage Resources Ltd, a Canadian junior resource exploration Company focused on massive sulphide exploration on Vancouver Island, BC. In addition, he is a founding Director of GMV Minerals Corp a resource exploration company active in central British Columbia. Mr. Klassen is an (Honours) B.A. graduate from the University of Western Ontario and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.
Craig Robson
Director, Corporate Secretary
Mr. Robson is a self-employed management consultant with extensive experience in all aspects of financial markets. Mr. Robson was previously employed by C.M. Oliver as Vice-President and Director, responsible for compliance and risk management. Robson is currently Director of MetalQuest Minerals Inc. and Pacific Cascade Minerals Inc., both TSX Venture Exchange listed issuers.
Dennis Espadilla, B.A.
Chief Financial Officer
Mr. Dennis Espadilla has Bachelor of Arts Degree in Hotel and Marketing Management from De La Salle University, Philippines, and is co- founder, Director and Vice President of Corporate Development for Northern Lights Uranium Corp. Mr. Espadilla has twenty years of successful experience in management, sales and marketing in the hotel service industry and currently the Chief Operating Officer of MRD Management and Development Corp, a hotel service management company.
ABOUT WYN DEVELOPMENTS INC.
Wyn Developments is a western Canada focused junior resource exploration, development and production company with both mineral and natural gas assets. With the ‘spin-out’ of its mineral assets into, Wyn Metals Inc. and capital restructuring, Wyn Developments will focus on natural gas exploration, development and production, through currently owned assets and seed additional natural gas exploration opportunities through possible future mergers and acquisitions.
On Behalf of the Board,
WYN DEVELOPMENTS INC.
“David McMillan”
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David McMillan
President & CEO