It's Official......................Gold Corp now owns these guys
Source MARKET NEWS
Date 06/04/2004
Time 09:36:46 AM
Company Goldpark China Limited
Title Completion
of sale of Bermuda subsidiary
DMIS Processed No CDNX Symbol: GKC.H
Exchange: VSE Symbol: GKC
Exchange: Symbol:
Exchange: Symbol:
Press Release
[200/News Release]GKCVGOLDPARK CHINA LTDJUN 04 2004 09:34 AMCompletion
of sale of Bermuda subsidiary ---> 7382 1098@NEWS RELEASEGOLDPARK CHINA LTD
("GKC.H-V")
- Completion of sale of Bermuda subsidiary
The Company has completed the sale of its Bermuda subsidiary, Grand
Technologies Limited for cash proceeds of US$2 million. The sale to the
Company's principal shareholder, Gold Corporation Holdings ApS ("Gold
Corp") was approved by the Company's shareholders at the Extraordinary
General Meeting held on May 14, 2004.
The Company has been advised that GoldCorp. has disposed of its shares
in the Company in a private transaction.
Four new directors have been appointed to the Board of Directors of the
Company and Richard Wadsworth has been appointed President. Wang Yinan,
Meng Lingku, Stephen Liu, Richard Nemis and Michelle Law have resigned from
their positions as directors and officers of the Company.
New directors and management are:
Richard Wadsworth, Director and President, has worked in a variety of
engineering, operational, and management roles, with 12 years of experience
in the domestic and international oil and gas industry. For the past three
years he has led and managed, on behalf of Premier Oil Plc, together with
its three International E&P partners, a Joint Venture Company developing
one of the largest onshore oilfield deposits in Europe. Prior to this he
held numerous roles with Koch Petroleum Canada for over 9 years. Mr.
Wadsworth holds a Chemical Engineering degree from the University of
Calgary, and is a registered Professional Engineer with APEGGA.
Robert Cross, Director, has over 15 years of investment banking
experience focussed primarily on the natural resource sector. Mr. Cross
served as Chairman and Chief Executive Officer of Yorkton Securities and as
a Partner and Director of Gordon Capital Corporation. He is currently a
director of several public companies in the resource sector including Bema
Gold Corporation and is Executive Chairman of Northern Orion Resources Inc.
Victor Redekop, Director, is a Chartered Accountant with over 30 years
experience in various aspects of the oil and gas industry, both
domestically and internationally. His international experience includes
operation of oil and gas companies in Southeast Asia, the former Soviet
Union and the Middle East.
Jonathan Harris, Director, has held several key positions with
companies around the world, most recently as chief operating officer of
Tribeka Limited, a software retailer and distributor. From 1993 to 2000 he
held a number of directorships with the Meridian group of companies which
specialize in corporate VAT recovery.
New management is currently reviewing acquisition opportunities in the
oil and gas sector in the Mediterranean region.
7,850,000 incentive stock options have been granted at an exercise
price of $0.15 per share for a term of five (5) years to directors,
officers, employees and consultants.
At the Extraordinary General Meeting held in May 2004 the shareholders
also approved the continuation of the Company from Ontario to British
Columbia under the British Columbia Business Corporations Act. Upon receipt
of all necessary regulatory approvals the Company will continue to British
Columbia and the name of the Company will be changed to "Bankers Petroleum
Ltd." The timing of the change and new trading symbol will be announced
once known.
GOLDPARK CHINA LIMITED
Robert Cross, Director
The TSX Venture Exchange does not accept responsibility for the
adequacy or the accuracy of this release.
TEL: (604) 609-6110 GOLDPARK CHINA LIMITED
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