Cap-Ex Appoints Mark Morabito as Special Advisor to the Chief Executive Officer
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 06/14/12 -- Cap-Ex Ventures Ltd. (TSX VENTURE: CEV)(OTCQX: CPXVF)(FRANKFURT: X0V) ("Cap-Ex" or the "Company") is pleased to announce that Mr. Mark J. Morabito has been appointed as Special Advisor to the Chief Executive Officer of Cap-Ex.
Mr. Morabito is the founder of the Exploration Group, the predecessor company to Forbes West which became part of Forbes & Manhattan in 2012. Mr. Morabito has more than 15 years' experience as a financier in the mining and exploration sectors. He is the founder and Executive Chairman of Alderon Iron Ore Corp. and Crosshair Energy Corporation and the founder and non-Executive Chairman of Excelsior Mining Corp. He also holds several directorships with publicly listed junior mining companies.
Prior to becoming a principal in the mining industry, Mr. Morabito practiced corporate finance and securities law in Toronto and Vancouver. He has a B.A. from Simon Fraser University and completed his J.D. at the University of Western Ontario.
Mark Morabito, Special Advisor to the CEO of Cap-Ex, stated, "I am honoured to be joining Cap-Ex at this important time in their growth. With a strong portfolio of iron ore projects within the Labrador Trough, I am excited to have the opportunity to assist Francois and the entire Cap-Ex team in realizing the full potential of these projects."
Francois Laurin, President and CEO of Cap-Ex, stated, "I am extremely pleased that Mark has agreed to join the Cap-Ex team. His experience and expertise, specifically his success with Alderon Iron Ore Corp., will be invaluable as we work to advance our Block 103 project, in addition to the entire Cap-Ex project portfolio."
Cap-Ex has granted Mr. Morabito, under the terms of its stock option plan, options to purchase up to 250,000 common shares at a price of $0.50 per share. The options vest over a two year period and have an expiry date of June 14, 2017.
ABOUT CAP-EX VENTURES LTD.
Cap-Ex Ventures Ltd. is a TSX Venture Exchange-listed company focused on the development of its Block 103 iron ore property in the Labrador trough, near the mining town of Schefferville, Quebec.
Through its exploration efforts Cap-Ex has revealed two primary zones of magnetite mineralization on its wholly owned Block 103 Property: the Northwest Zone and the Greenbush Zone. Both zones exhibited excellent drilling and assay results and have high potential to identify additional mineralization as several holes terminated in mineralization and, in most holes, mineralization started near surface and is open in all directions.
The Block 103 property is strategically located close to existing railway, affording direct access to a shipping port, and is adjacent to New Millennium Iron Corp-Tata Steel's LabMag and KeMag deposits and the New Millennium-Tata oxide deposits to the east.
Alex Walus, P.Geo., an employee of the Company and a qualified person pursuant to National Instrument 43-101, has reviewed and approved the technical and scientific information in this news release.
For additional information about Cap-Ex Ventures visit the company website at www.cap-ex.ca. Follow us on Facebook (Search Cap-Ex Ventures) or Twitter @CapExVentures.
CAP-EX VENTURES LTD.
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 impact of the appointment of Mr. Morabito on the Company and the Company's exploration prospects. 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.