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Cielo Gold Corp
Symbol C : CMC
Shares Issued 21,583,373
Close 2013-06-04 C$ 0.25
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Cielo directors Janda, Bal and Hawkins resign

2013-06-12 18:18 ET - News Release

Mr. Don Allan reports


Lucky Janda has resigned as a director and chairman of the board of Cielo Gold Corp. Don Allan, president and chief executive officer, has accepted the chairman's position. Jatinder (Jack) Bal and Greg Hawkins have also resigned from the board, effective immediately.

Mr. Allan said: "It has been a pleasure to work closely with Lucky, Jack and Greg, who have worked very hard to help Cielo move toward its goals and comply with continuous disclosure issues. We wish Lucky and Jack all the best in the future."

The corporation is further pleased to announce the appointment of three new directors. The first appointee is Doug Lewis. Mr. Lewis practises corporate and commercial law, and is a former member of Parliament and cabinet minister, serving as attorney general, minister of transport and solicitor general. He is a former bencher of the Law Society of Upper Canada, and currently serves as chair of the audit committee of the attorney general of Canada.

The second appointee is Doug MacKenzie. Mr. MacKenzie is a former oil industry executive and has over 20 years of experience as a senior executive, strategist and innovator in the ethanol and biofuels industry. Mr. MacKenzie is presently the CEO and president of Permolex International, and is a director of Alberta Innovates-Bio solutions, as well as chairman of the governance committee and member of the audit committee. He has been involved extensively in community volunteer activities. His education includes an MBA (York), management science (Stanford) and bachelor science in engineering physics (University of Alberta, with distinction).

The third appointee is James G. Chepyah. Mr. Chepyha is vice-president of Chrysalix Energy Venture Capital. Mr. Chepyha brings 20 years of corporate finance experience in the energy industry with him. Most recently, he was responsible for establishing and managing Goldman Sachs's principal investing in the Canadian energy sector, and prior to that he built and managed Union Bank of California's Canadian operations, including portfolio development. Mr. Chepyha has worked for both domestic and foreign financial institutions in Canada with a focus on corporate, debt, equity and structured finance. He now heads Chrysalix's Alberta investment focus, contributing to the firm's mission to help "clean up" traditional hydrocarbon methods. Mr. Chepyha has a bachelor of commerce (with honours) from the University of Saskatchewan and an MBA from the Schulich School of Business at York University in Toronto.

Mr. Allan stated, "It is an utmost pleasure to have the opportunity to be able to work with the new appointees, as they bring vast levels of experience to Cielo and offer expertise in different areas."

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