JBZ CAPITAL INC.
1040 — 999 West Hastings Street Vancouver, British Columbia Canada V6C 2W2
NEWS RELEASE
ACQUISITION OF STRATA MINERALS AND APPOINTMENT
OF NEW OFFICERS AND DIRECTORS
VANCOUVER, BC, April 21, 2011 - JBZ Capital Inc. (TSX-V: JBZ.P) (“JBZ” or the “Company”) is pleased to announce the acquisition today of all the issued and outstanding shares of Strata Minerals Limited (“Strata”) pursuant to a previously announced share purchase agreement (the “Transaction”).
Under the terms of the Transaction, JBZ issued 43,306,618 common shares to acquire all the issued and outstanding Strata shares. In addition, JBZ issued 8,333,334 JBZ common share purchase warrants as consideration for an equal number of Strata warrants. The JBZ warrants entitle the holder thereof to acquire an additional JBZ common share for a period of eighteen (18) months for $0.25, and include a provision that will allow JBZ to accelerate the exercise of the warrants if JBZ’s common shares trade for 20 consecutive trading days at a weighted average trading price of $0.35 or more per share. As of the close of the Transaction, JBZ has 59,306,618 common shares issued and outstanding.
In conjunction with the close of the Transaction, the Company is pleased to announce the following changes to its management. Effective today, each of Mike Jenks, Kirk Gamely and Jeff Giesbrecht has resigned as a director and Brent Lokash, Georgina Martin and Mike Jenks have resigned as President, CFO and Secretary, respectively. In their place, Nigel Gellard has been appointed as a director and President and CEO; Peter Kozicz has been appointed as a director, CFO, Executive Vice President and Corporate Secretary; Peter Ellery has been appointed as a director and Chairman of the Board; and Hugh Agro has been appointed as a director. In connection with these changes to the Company’s board of directors, the members of the Company’s audit committee are now Hugh Agro (Chairman), Brent Lokash and Peter Ellery.
The members of the Company’s corporate governance committee are Brent Lokash (Chairman), Hugh Agro and Peter Ellery..
About Strata Minerals Limited
Strata is a private Australian company registered in western Australia, which carries on the
business of exploring for commercial-scale phosphate rock mineralization, with the intention of developing a mine and becoming a supplier of phosphate rock to the global fertilizer industry.
ON BEHALF OF THE BOARD OF DIRECTORS
“Nigel Gellard” President, CEO and Director
BZ - News Release announcing close of Strata share purchase (April 21 11) FINAL) (1) Conformed.doc
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For further information, please contact:
Nigel Gellard, President & CEO Peter Kozicz, EVP & CFO
Tel: +61 4 0793 8630 Tel: 1905 815-9103
Email: [email protected] Email: [email protected]
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.
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits JBZ will obtain from them.