Wildcat Exploration reconfirms appointment of PricewaterhouseCoopers as auditor
30 January 2007
Wildcat Exploration Ltd. (the "Company") announced today that it has reconfirmed the continued appointment of PricewaterhouseCoopers (into which the Company's prior auditor, Staley, Okada & Partners, Chartered Accountants, merged its practice during the past year) ("PWC") as the properly appointed auditor of the Company.
On October 27, 2006, without the authority of the board of directors of the Company, the former President and CEO of the Company, Shlomo (Sol) Prizant prepared and caused to be filed on SEDAR a Notice of Change of Auditors purporting to change the auditor of the Company from PWC to Danziger & Hochman, Chartered Accountants.
Since Mr. Prizant did not have the authority to make this purported change, the Company is confirming the continuing appointment of PWC as the rightful auditor.
It is the Company's position that Danziger & Hochman were never duly appointed to act as auditor of the Company. The Company is filing documents on SEDAR today to provide evidence of this.
As a result of this, and other conduct of Mr. Prizant, the board relieved him of his duties as President and CEO on January 8, 2007 and terminated his consulting agreement on January 26, 2007. Mr. Prizant's consulting agreement requires that upon termination, Mr. Prizant immediately resign as a director of the Company.
Since being relieved of his duties as President and CEO, Mr. Prizant and Yes Forex Inc., together representing not less than 5% of the outstanding common shares of the Company, have requisitioned a meeting of the shareholders of the Company for the purpose of removing all of the existing directors of the Company and electing new directors of the Company.
The board of directors has referred the requisition to the Executive Committee of the board for consideration.
The Company is currently conducting a review of Mr. Prizant's conduct during his time and tenure as President and CEO and will report to the shareholders at the conclusion of that investigation.
About Wildcat Exploration Ltd.
Wildcat is a Winnipeg-based mineral exploration company actively exploring for gold and base metals in Canada. For further information on the company please visit our website at www.wildcat.ca or contact us at info@wildcat.ca.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this press release.
"Jerrold Siemens"
Interim President and CEO
For further information: Shareholder Contact: Wesley Hall, Kingsdale Shareholder Services Inc., Exchange Tower, Phone: (416) 867-4550, Direct: (416) 867-2342, email: whall@kingsdaleshareholder.com; Media Contact: John Lute, Lute & Company, Phone: (416) 929-5883, email: jlute@luteco.com
Source: newswire
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