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Levano Joins Board of Directors February 22, 2007: Kettle River Resources Ltd.(TSX-V: KRR) (the “Company”) announces that Stephen (Steve) Levano has replaced Brian McClay on the board of directors and the audit committee. Steve has been involved as a shareholder of the Company for over 10 years and has an extensive business and education background. He possesses a BA in Economics and a MBA in International Finance and has over 30 years of investment experience with natural resource companies. Steve has operated a petroleum analysis and vessel inspection business. The company performs U.S. Customs approved custody transfers in the New York Harbor region. Larry Widmer and Ellen Clements are the directors currently representing Kettle River on the board of DHK Diamonds Inc.
The Company announces it has closed the $412,500 non-brokered private placement announced January 25, 2007 having received TSX Venture Exchange acceptance on February 21, 2007, Submission No. 122223. This issuance of 2,750,000 shares will result in fully diluted share capital of 18,953,611 and includes all unexercised warrants and options granted.
Warrants to purchasers for 2,750,000 common shares at 25 cents will expire February 22, 2008. The shares, and any shares issued upon exercise of the non transferable warrants are subject to a four month plus one day hold period and may not be traded in British Columbia until June 25, 2007, except as permitted by the Securities Act and the Rules made thereunder and the TSX Venture Exchange.
Pro group participation: Brock Aynsley, 325,000; David Elliot, 100,000; David Shepherd, 100,000; Andrew Williams, 100,000. Insider participation: Ellen Clements, 23,334; Gerald Rayner, 40,000. Finders' fees: of 8 per cent paid for a total of 176,000 common shares and a total of $3,600 paid in cash.
ON BEHALF OF THE BOARD
Ellen Clements, Director
For further information contact Ellen Clements at 1 800 856- 3966 or Larry Widmer 250 878 5099
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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