VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 05/27/10 -- Landen Capital Corp. (the "Company") (TSX VENTURE: LAN) is pleased to announce that it has received proceeds of $1,861,300 from the exercise of warrants issued in connection with the November 16, 2009 non-brokered private placement. The accelerated expiry date of the 8,620,000 warrants and 691,500 finders' warrants was announced on April 20, 2010. A total of 9,306,500 warrants were exercised, representing 99.9% of the total warrants issued. The Company will have issued 9,306,500 common shares for these warrants.
"We are very excited about the high percentage of warrants exercised. The proceeds will be utilized for the Company's exploration efforts," stated Dr. Audet, President and CEO of the Company.
The Company is also pleased to announce the appointment of Jens Hansen, P.Eng, to the Company's Board of Directors.
Mr. Hansen created Sama Nickel Corporation ("Sama") in 2008 and he initiated the SODEMI-Sama joint venture on the Samapleu nickel-copper (PGE's) deposit in Cote d'Ivoire, Africa. Mr. Hansen is a Professional Engineer (Geophysics), with over 30 years' experience in the mining and exploration industries with a focus on building junior companies. Mr. Hansen was previously employed by Atomic Energy of Canada Limited at the Chalk River nuclear research laboratory and by Geoterrex Ltd. He is currently President of both Melkior Resources Inc. and Beaufield Resources Inc. "Mr. Hansen is a successful Canadian entrepreneur with 30 years of experience working in Cote d'Ivoire, Africa. His contribution will assist the Company in executing its strategic plans for 2010 and beyond", stated Dr. Audet.
The Company has granted today 250,000 incentive stock options to Mr. Hansen pursuant to its Stock Option Plan. These options will be exercisable at a price of $0.42 per share and will expire on May 26, 2015. An 18-month vesting provision will be included. The grant of the stock options is subject to regulatory approval.
Mr. Hansen replaces Ms. Nancy J. Wolverson, who has resigned as a Director effective immediately. The Company would like to thank Ms. Wolverson for her contribution to the Company.
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.
Landen Capital Corp.
Dr. Marc-Antoine Audet
President and CEO
(514) 726 4158
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