CAPELLA RESOURCES LTD. (TSX-V: CPS) (“Capella” or the “Company”)
is pleased to announce that at its Special Meeting held on November 28,
2008 (the “Meeting”), the shareholders approved the consolidation of the
Company’s common shares on the basis of one (1) post-consolidated common
share for every ten (10) pre-consolidated common shares, or such lesser
whole number of pre-consolidated common shares as the directors of the
Company may determine (the “Consolidation”). Of the 66,832,174 common
shares eligible to be voted, 9,990,428 common shares (or 14.9%) were
voted at the Meeting and 9,376,985 (or 93.9%) voted in favour of the
Consolidation and 613,443 shares (or 6.1%) voted against the
Consolidation.
The board of directors of the Company has approved the final
consolidation ratio to be one (1) post-consolidated share for every ten
(10) pre-consolidated common shares. The Consolidation is subject to the
approval of the TSX Venture Exchange (the “TSX-V”) and the Company is
the process of applying to the TSX-V for such approval. The Company will
provide further details of the regulatory approval process in due course.
Details of the Consolidation are contained in the Company’s information
circular dated October 29, 2008, which was mailed to shareholders on
October 31, 2008, and filed on SEDAR (www.sedar.com).
About Capella Resources Ltd.
Capella Resources Ltd. is a publicly traded, junior exploration and
mineral development company with a strong portfolio of precious and base
metal projects in Chile, USA and Atlantic Canada. The Company has a 100%
interest in the Lajitas and Nevada gold-copper properties located in the
Maricunga Gold and Copper District and approximately 700 kilometres
northwest of Santiago, Chile. The properties comprise ten exploration
claims and six exploitation claims totalling a cumulative 3,500 hectares
in area. The Company holds a 100% interest in the Tinton Gold Project
located 15 kilometres west-northwest of the famous and historic
Homestake Mine in the Black Hills at Lead, South Dakota. The Tinton
property consists of 1,270 hectares contained in 157 unpatented mining
claims.
The Company also holds over 25,000 mineral exploration claims covering
an aggregate land area of over 1.2 million acres (495,264 hectares) in
Atlantic Canada (Nova Scotia, New Brunswick and Newfoundland and
Labrador).
CAPELLA RESOURCES LTD.
per: “Richard Bachman"
Richard Bachman, Chief Executive
Officer, President & Chief Geological Officer
Not for distribution to the United States newswire services or for
dissemination in the United States.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in the United
States. The securities have not been and will not be registered under
the United States Securities Act of 1933, as amended (the “U.S.
Securities Act”) or any state securities laws and may not be offered or
sold within the United States or to U.S. Persons unless registered under
the U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Capella Resources Ltd.
Diane Webber, P. Geo
Tel:
902-456-4349
Toll Free: 1-877-342-7474
Email: info@capellaresources.com
