The net effect of these transactions results in Hidefield as a 40% shareholder and Anglo Pacific Group as a 19% shareholder of the Company. Hidefield and Anglo Pacific bring to the Company important relationships to the European financial community. Hidefield is a gold development company with gold exploration interests in Brazil, Nevada, Arizona and Canada. Anglo Pacific is a natural resource group pursuing global royalty and other participating interests. Anglo Pacific receives a coal royalty from two mines in Queensland, Australia operated by Rio Tinto and BHP Billiton, mainly producing coking coal for the Far Eastern market.
Upon satisfaction of all Exchange approvals, Alto will have an exceptional portfolio of gold projects in Manitoba, Ontario and Quebec under the management of a new team of mining and finance professionals with a proven track record in mineral property development, acquisitions and access to capital markets. Drill programs for the Oxford Lake and Despinassy projects are planned for the upcoming winter drill season.
ON BEHALF OF THE BOARD:
Rick Mazur
President & CEO
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
For further information, contact:
Rick Mazur
President & CEO
Alto Ventures Ltd.
Suite 910-475 Howe Street
Vancouver, B.C. V6C 2B3
Phone: 604-681-2409
Fax: 604-689-3609
Email: info@altoventures.com