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Canada Gold Appoints Sunil Sharma as Managing Director and Changes Name to STEM 7 Capital Inc.
June 25th, 2013 - Vancouver, British Columbia - Canada Gold Corporation (TSX.V: CI, Frankfurt: T9NB, OTC-BB: CNGZF) (the "Company") is pleased to announce that, further to the Company's news release dated May 29th, 2013, it welcomes Sunil Sharma to the team as Managing Director.
The Company is also pleased to announce that it will change its name to STEM 7 Capital Inc., which will be effective upon making the requisite regulatory filings, at which time the Company will operate under the new name. The Company will begin trading under STEM 7 Capital Inc. and a new symbol upon the completion of its change of business transaction, subject to regulatory approval.
Sunil Sharma
Most recently, Mr. Sharma was the co-founder, Managing Director and "Chief Connector" of Extreme Startups, a world-class, venture-backed, technology accelerator based in Toronto, Canada. He brings a wealth of public and private sector experience, spanning direct equity investments, international diplomacy and foreign relations, and entrepreneurial community-building in both regional and global settings.
Extreme Startups was created by five of Canada's premier VCs (OMERS Ventures, Relay Ventures, BDC Venture Capital, Rho Ventures and Extreme Venture Partners). The company funds, connects and helps to grow the next generation of disruptive technology companies. With a rigorous program of mentorship, corporate partnership and hands-on coaching, Extreme Startups has become one of the most sought-after programs for early-stage companies in Canada. Its elite program has earned national and international recognition that receives interest from entrepreneurs from across the world and has been recognized as a key catalyst in the rapid rise of Toronto as one of the world's top startup and entrepreneurial clusters.
Prior to joining Extreme Startups, Mr. Sharma was the International Director of Canada's Venture Capital and Private Equity Association (CVCA), a position he held while on assignment from Canada's Department of Foreign Affairs and International Trade (DFAIT), where he was active in helping connect the Canadian venture capital and private equity industry with international funding partners and institutional investors.
As a member of Canada's foreign service, Mr. Sharma has spent many years in various international roles, including serving as Canada's representative to the World Intellectual Property Organization and being selected to open and serve as the Head of Consulate at the Canadian consulate in San Diego, California. While serving on the US west coast, Mr. Sharma successfully built a team of trade commissioners whose focus was to work closely with the vibrant, technology-rich innovation ecosystems in California - including their respective universities, VC funds, angel networks, incubators, accelerators, and entrepreneurship networks - and to connect them with their counterparts across the Canadian technology landscape.
Prior to joining DFAIT, Mr.. Sharma worked at the Canadian Space Agency, where he managed industrial relations and helped build global capacity in Canada's satellite communications sector.
Mr. Sharma is deeply connected with a wide range of national and international entrepreneurial and investment initiatives, including Startup Weekend (co-organizer), the Canadian Innovation Exchange, the Banff Venture Forum, the Quebec City Conference (one of the world's premier institutional investor forums), the Indus Entrepreneurs network (TiE Charter member) and several chambers of commerce, boards of trade and mobile/software developer associations. He is a frequent media contributor and sought-after conference speaker. He earned a Bachelors Degree in Economics from the University of Victoria and holds a Masters degree in Industrial Relations from the University of Toronto.
"Sunil is an extraordinarily connected and highly respected professional with deep networks and key relationships precisely in STEM 7's line of business" says Tom Sweeney, Executive Chairman of the Company. "His move to a publicly traded investment company that is focused on facilitating and investing in deals that have international connections to, from and between emerging markets, Canada, and the world’s leading innovation ecosystems is an exciting and important appointment for our company and its shareholders."
Effective June 1, 2013, Mr.. Sweeney was appointed a Director of the Board and Executive Chairman of the Company, replacing David McMillan, who will remain a Director of the Company.
About STEM 7 Capital Inc. (Previously "Canada Gold Corporation")
Pursuant to the Policy 5.2 - Changes of Business and Reverse Takeovers of the TSX Venture Exchange Corporate Finance Manual, the Company is changing its business to become a publicly traded, global investment company, with offices located in Toronto, Vancouver, and Dubai. The Company's business is focused on facilitating and making direct co-investments with its international partners under three themes: (i) international joint ventures, licensing opportunities and subsidiaries that bring innovative technologies to emerging and frontier markets; (ii) investment opportunities that connect high growth companies in emerging economies with other emerging economies and the west; and (iii) investments in entrepreneurs as co-investments with international partners: both those entering Canada (eg. through the recently launched Canadian Start-up Visa initiative which allows for internationally sourced entrepreneurs to gain permanent residency in Canada in partnership with qualified Canadian investors), and their international counterparts in specific global markets. STEM 7 will provide angel investors, venture capitalists, private technology based investment funds, sovereign funds, and the general investing public in the west and the east with a public vehicle through which these groups can participate in the rapid globalization of creativity, invention and innovation in a wide range of technology sectors, food and water security and strategic infrastructure opportunities: sourced and facilitated through management's extensive global partnership network in established and emerging markets.
Completion of the COB Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and shareholder approval. There can be no assurance that the COB Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the COB Transaction, any information released or received with respect to the COB Transaction may not be accurate or complete and should not be relied upon.
The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed COB Transaction and has neither approved nor disapproved the contents of this press release.
For more information, please contact Tom Sweeney at +971 56 101 2730, Sunil Sharma at +1 416 726-6976 at Chad McMillan on +1 604 685-5851; or send an email to: ir@stem7capital.com.
On behalf of the Board,
"Tom Sweeney"
Tom Sweeney
Executive Chairman, Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the Company's plans for and intentions with respect to the Change of Business transaction and proposed name change constitute "forward-looking statements" and "forward-looking information" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government, shareholder, or other regulatory approvals and any required financing to complete the Company's Change of Business transaction and proposed name change. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to the Company's operation as a global investment company that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, delays in obtaining required government, shareholder, or other regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
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