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Kasten Chase Applied Research Limited Announces Execution of Mutual Release and Resignations and Appointment of Director
Kasten Chase Applied Research Limited Announces Execution of Mutual Release and Resignations and ...
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[{"type":"text","content":"\nKasten Chase Applied Research Limited Announces Execution of Mutual Release and Resignations and Appointment of Director\n\n\n Sep. 2, 2009 (Filing Services Canada) -- Kasten Chase Applied Research Limited (XX - TSX Venture), announces that Nova Bancorp Ltd. (\"Nova Bancorp\") has provided formal written notice by letter dated September 1, 2009 advising that they are unable to complete the Investment Proposal, as defined and described in the information circular of the Corporation dated January 23, 2007 (the \"Information Circular\") under the heading \"Approval of the Nova Bancorp Group Investment Proposal\". The Information Circular can be found on SEDAR at www.sedar.com. In connection therewith, Mr. Harry L. Knutson and Mr. Richard M. Wlodarczak have tendered their resignations as directors of the Corporation, effective September 1, 2009.In order that Kasten be able to proceed on alternative financing arrangements with a view to re-activating the company, the board of directors has entered into a release by Kasten of each of Nova Bancorp and Messrs. Wlodarczak and Knutson. The mutual release also releases Kasten from each of those parties.Mr Kenneth DeWyn was appointed as a director of the Corporation to fill a previous vacancy such that the board of directors is now constituted to include each of Mr. DeWyn, Mr. Jay Simmons and Mr. Al Kroontje, all of Calgary Alberta.This news release is not for dissemination in the United States or to any United States news services.Source: Kasten Chase Applied Research LimitedMaximum News Dissemination by Filing Services Canada Inc. *www.usetdas.com\n\n\n\n","length":1873,"tagName":"div"}]