Newbridge Capital Inc. Announces Appointment to the Board of Directors and Outline of the Project Development Services
Vancouver, BC, February 02, 2012 - Newbridge Capital Inc. ("Newbridge" or the "Company") is pleased to announce the appointment of Mr. David Savage to the Board of Directors. Mr. Savage has held senior executive roles in the construction industry in Australia, Asia and the Middle East for more than 25 years. From 1988 until March 2011, Mr. Savage was a senior executive with the Leighton Group of Companies, Australia's largest construction and project development group.
Mr. Savage is and will remain Chairman of Stonehouse Construction Limited, ("Stonehouse") a project development company based out of Singapore with activities in South East Asia, Central Asia and Africa and holds non-Executive Director positions with both Keller Group PLC, a ground engineering company listed on the London Stock Exchange and Mudajaya Corporation Berhad, a Malaysian construction conglomerate, listed on the Kuala Lumpur Stock Exchange.
Mr. Savage holds a Bachelor degree in Civil Engineering from Deakin University in Victoria, Australia.Appointment to Newbridge Board of Directors
Mr. Savage will be advising and guiding Newbridge as it moves forward in closing the share purchase agreement, announced on December 19, 2011, with Safin Element GmbH. ("Safin") to acquire all of Safin's 100% beneficial interest (the "Interest") in the Lomonosovskoye Limited Liability Partnership (the "LP") (the "Transaction"). Pursuant to a contract between the LP and the Ministry of Industry and New Technologies of Kazakhstan the LP holds the unrestricted exploration and production rights to the Lomonosovskoye iron ore deposit (the "Deposit"), located in Kostanay Oblast, Kazakhstan.Project Development Services
The senior and executive management of Stonehouse possess a wealth of international infrastructure, building, oil & gas and mining experience and in particular has extensive experience in mining project development and production having undertaken large scale projects in Australia, South East Asia and South America.
Stonehouse has been appointed to manage the feasibility/financing studies and complete the implementation of the Lomonosovskoye Project (the "Project") through to production. Stonehouse's team is based in Astana, Kazakhstan and includes a strong group of international and local professionals who commenced planning the implementation phase of the Project in October 2011.About the Company
Newbridge Capital Inc. is a mining exploration and development company focusing on iron ore. Further investment targets in Kazakhstan have been identified to synergize with the initial acquisition target; Lomonosovskoye LLP in Kazakhstan. Other world-wide target acquisitions are being sought. Newbridge aims to be a significant mid-tier international mine exploration and development company in the iron ore sector.
The Transaction received conditional approval from the TSX Venture Exchange on January 5, 2012 but is subject to final TSX Venture Exchange approval and the terms of the Sales & Purchase Agreement executed on December 19, 2011.
For additional information readers are invited to review additional corporate and property information available on SEDAR at www.sedar.com
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