Megastar’s Board of Directors Approves Name Change of The Company to Madoro Metals and Names Brian Ostroff as Executive Chair
MEGASTAR DEVELOPMENT CORP.
#1450 - 789 W. Pender Street, Vancouver, BC, Canada V6C 1H2
Tel.: (604) 681-1568, Fax: (604) 681-8240
Toll Free: 1-877-377-6222
www.megastardevelopment.com
TSX-V: MDV Frankfurt: M5QN OTC: MSTXF
Megastar’s Board of Directors Approves Name Change of The Company to
Madoro Metals and Names Brian Ostroff as Executive Chair
Vancouver, BC, Canada, January 21, 2021 – Megastar Development Corp. (“Megastar”, or the “Company”)
(TSX-V: MDV; Frankfurt: M5QN; OTC: MSTXF) announces that its Board of Directors (the “Board”) has
approved a name change to Madoro Metals Corp., subject to approval from the TSX Venture Exch ange.
Management believes the new name better reflects the focus of the Company as a Mexican- centric
explorer, pursuing opportunities around the Sierra Madre de Oaxaca (“Mad”) for precious metals (“oro”)
exploration.
The Company is also pleased to announce that Brian Ostroff has been named Executive Chair of the Board
following his appointment as Director at Megastar’s recent AGM. Mr. Ostroff graduated from the
University of Toronto (1986) before beginning his career in finance. Through his career, Mr. Ostroff has
held positions in many areas of the capital markets industry including sales, M&A advisory and proprietary
trading. In 2009, Mr. Ostroff joined Windermere Capital as a partner where he focused on the small and
mid-cap resource sector. Mr. Ostroff was named to the Board of Arianne Phosphate in 2014 and has
served as CEO there since 2016.
“On behalf of the whole Megastar team, I want to welcome Brian on board,” said Dusan Berka, CEO of
Megastar. “I have known Brian for some time as he has taken an interest in the Company and I am looking
forward to working closely with him to advance our projects.” Mr. Ostroff added that, “I have had long -
standing successful relationships with many on the Megastar team and, although early stage, I am very
encouraged by results so far. In joining the Company in a more formal way, I believe that I can work closer
with the team and use my experience and contacts that I have built up over many years to help accelerate
the advancement of the Company.”
ABOUT MEGASTAR DEVELOPMENT CORP.
Megastar Development Corp. is engaged in the evaluation, acquisition and exploration of mineral
properties in Mexico and Canada. Megastar has an option to acquire 100% interest in three epithermal
Au-Ag mineral properties in Oaxaca, Mexico. Megastar also owns 100% interest in the Ralleau, VMS/lode
gold mineral property in Urban Barry District, Lebel -sur-Quévillon area of Quebec, currently under 50%
option to DeepRock Minerals Inc. (CSE: DEEP ). For further information, investors and shareholders are
invited to visit the Company’s website at www.megastardevelopment.com or call the office at 604-681-
1568 or toll free at 1-877-377-6222.
MEGASTAR DEVELOPMENT CORP.
#1450 - 789 W. Pender Street, Vancouver, BC, Canada V6C 1H2
Tel.: (604) 681-1568, Fax: (604) 681-8240
Toll Free: 1-877-377-6222
www.megastardevelopment.com
TSX-V: MDV Frankfurt: M5QN OTC: MSTXF
ON BEHALF OF THE BOARD OF DIRECTORS,
“DUSAN BERKA”
Dusan Berka, P. Eng.
President & CEO
Neither the 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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not
historical in nature are intended to be, and are hereby identified as, “forward- looking statements”. Forward-looking statements
may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. Th e
Company cautions readers that forward-looking statements, including without limitation those relating to the Company’s futur e
operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially
from those indicated in the forward-looking statements.