NANAIMO, Canada, Sept. 3, 2002 (PRIMEZONE) -- PNG Ventures Inc. (Pink Sheets:PNGV) (the "Company") is pleased to announce a change in its management and a change in business direction.
John Spicer, sole director and officer of the Company, has today resigned as director and officer of the Company. Alan M. Brown has agreed to act as the sole director and president of the Company. Mr. Brown has been involved with various public and private companies over the last few years with a primary focus on raising capital for proven business concepts. Prior to Mr. Brown's involvement with public companies, he was an account manager for a chartered accounting firm where he managed accounts with an emphasis on corporate and private tax planning.
Mr. Brown intends to change the business of the Company and is currently considering a number of opportunities and avenues for the future business of the Company. Further, Mr. Brown intends to have the Company apply for listing on the NASD OTC Bulletin Board.
Certain information and statements included in this news release constitute "forward-looking" statements within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied in such forward-looking statements.
On behalf of the Board of Directors of: PNG Ventures, Inc. Alan M. Brown President