Contact Exploration Announces Private Placement

Contact Exploration Inc. (TSX VENTURE:CEX)reported that the company has entered into a financing and reorganization agreement with Steve Harding which contemplates (i) the appointment of a new board of directors, (ii) the appointment of a new management team, and (iii) a non-brokered private placement of up to $3.5 million.

The press release is quoted as saying:

The New Board of Contact shall consist of the following individuals: Steve Harding, Don C. Stachiw, Steve Haysom and the New Management Team shall consist of the following individuals: Steve Harding, Proposed President and Chief Executive Officer, Ian Thomson, Proposed Chief Financial Officer

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