MONTREAL, Jan. 26 /CNW Telbec/ - Further to its news releases of November 14, 2006 and January 3, 2007, C Level Bio International Holding Inc. (TSXV-CLV.P) ("C Level"), a Capital Pool Company, in accordance with the policies of the TSX Venture Exchange Inc. (the "TSX V"), is pleased to announce that it has obtained the approval of its shareholders to proceed to the corporate changes required to complete the acquisition of Nevada Exploration Inc. (the "Proposed Qualifying Transaction`). These changes were the last conditions to be met in relation with the completion of the Proposed Qualifying Transaction other than obtaining the applicable regulatory approvals.
In a special meeting of the shareholders of C Level held in Toronto yesterday, the shareholders of C Level overwhelmingly approved:
the election of David Carbonaro, Wade Hodges, Jean-Francois Pelland,
Daniel Pharand and Ken Tullar as directors of C Level;
the change of name of C Level to "Nevada Exploration Inc.";
the consolidation of the common shares of C Level on a one (1)
for two (2) basis; and
the 2006 Employee Stock Option Plan and the increase of the number of
Common Shares reserved for issuance under the 2006 Employee Stock Option
Plan to 9,983,333 before consolidation;
such changes not to take effect until immediately following the
Completion of the Proposed Qualifying Transaction.
About Nevada Exploration Inc.
Nevada Exploration Inc. is a Toronto-based junior exploration company, constituted under the laws of the Province of Ontario, focused, through its wholly-owned Nevada incorporated subsidiary Pediment Gold LLC, on gold exploration in Nevada. It has 100% ownership interest in two exploration properties in Nevada's major gold trends: the Fletcher Junction Property and the Hot Pot Property, and is led by a highly experienced management team.
Other Information
Completion of the Proposed Qualifying Transaction is subject to a number of conditions, including but not limited to the satisfaction of the minimum listing requirements of the TSX V and acceptance of the Proposed Qualifying Transaction as C Level's qualifying transaction pursuant to its Policies and any other required approvals or consents. There can be no assurance that the Proposed Qualifying Transaction will be completed as proposed or at all. The TSX V has in no way passed upon the merits of the Proposed Qualifying Transaction and does not accept responsibility for the adequacy or accuracy of this press release.
The prospectus of C Level Bio International Holding Inc. can be consulted on SEDAR's website at the address: http://www.sedar.com
%SEDAR: 00023996EF