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In line with its short, medium and long term goals and strategies, Douglas Lake wishes to announce the following changes to be implemented immediately and during the first half of 2012:
a. The proposed change of the name of the company to Handeni Gold Limited. Douglas Lake is currently the largest single license holder in the Handeni district and will most likely acquire more high potential property in the district in the near future. As Handeni is emerging as a major potential gold region in the United Republic of Tanzania, our position in the district should be reflected in the company's name.b. The proposed relocation of the Company's (Handeni Gold's) offices from Vancouver to New York. This step is a logical consequence of the composition of the Company's funding and shareholder base as well as the Company's drive to move forward with a future listing on a recognized stock exchange when all requisite requirements can be met. The Vancouver operations will, for the time being, be run with skeleton value adding staff to handle business development, marketing and investor relations for Canada.
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