Stockholm, Sweden, 2010-12-17 16:41 CET (GLOBE NEWSWIRE) -- Central Asia Gold AB strengthens its management team by appointing Stefan Egerstad as new Chief Financial Officer.
Stefan Egerstad’s latest position was CFO and vice president of Procurator AB.
"The recruitment of Stefan Egerstad as CFO will strengthen the Group's organization. Stefan's international experience of listed companies will be a valuable asset in the company's plans to become listed on Nasdaq OMX Stockholm main list", says Lars Guldstrand, the Chairman of the Board.
Stefan Egerstad, 42 years old, takes up the position on December 20, 2010. He has an MBA and a broad experience from positions, with a special focus on operations in Russia. He previously held the positions of CFO of Zodiak Television AB in Sweden, CEO at OOO MEGA Belaya Dacha, a joint venture between IKEA and ”Belaya Dacha” Group, in Russia, CFO and vice CEO at Bonny Allied Industries Ltd in Nigeria, authorised auditor at PwC in Sweden, and authorised auditor at Ernst & Young in Sweden, Lithuania and the USA.
Additional information:
Short name: CAG
ISIN-code: SE0001337213
Website: http://centralasiagold.se Postal and visiting address: Engelbrektsplan 2, 4tr
SE-114 34 Stockholm
Central Asia Gold AB is a Swedish mining company focused on gold production and exploration in Russia in the central parts of Asia. The gold production was initiated in late January 2005 and the assets were as at end of 2008 estimated to encompass some 800,000 oz of C1/ C2 Russian gold reserves.
Since July 19, 2010, CAG´s shares are traded on First North Premier at the NASDAQ OMX Nordic Exchange under the short name CAG. For more information please visit www.centralasiagold.se. Mangold Fondkommission is Certified Adviser to CAG, for more information please call +46 8 503 015 50 or visit www.mangold.se.
Cautionary Statement: Statements and assumptions made in this report with respect to Central Asia Gold AB’s (“CAG”) current plans, estimates, strategies and beliefs, and other statements that are not historical facts, are forward-looking statements about the future performance of CAG. Forward-looking statements include, but are not limited to, those using words such as "may", "might", "seeks", "expects", "anticipates", "estimates", "believes", "projects", "plans", strategy", "forecast" and similar expressions. These statements reflect management's expectations and assumptions in light of currently available information. They are subject to a number of risks and uncertainties, including, but not limited to, (i) changes in the economic, regulatory and political environments in the countries where CAG operates; (ii) changes relating to the geological information available in respect of the various projects undertaken; (iii) CAG’s continued ability to secure enough financing to carry on its operations as a going concern; (iv) the success of its potential joint ventures and alliances, if any; (v) exchange rates, particularly between the Russian rouble and the U.S. dollar. In the light of the many risks and uncertainties surrounding any gold production and exploration company at an early stage of its development, the actual results could differ materially from those presented and forecast in this report. CAG assumes no unconditional obligation to immediately update any such statements and/or forecasts
This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Nothing in this press release should be considered as an offer to invest or otherwise trade in shares of Central Asia Gold AB (publ). The proposed issue will not be directed at residents or those living in the United States, Australia, Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action would require further prospectus, other offering documentation, registration or other measures beyond those required by Swedish law. No securities will be registered under the United States Securities Act of 1933, a similar law in any state in the United States, or under any provincial law in Canada, nor under the applicable law of another country.
For more information, please contact:
Lars Guldstrand, Chairman of the Board, phone +46 70 528 8181
E-mail: lars.guldstrand@centralasiagold.se
Preston Haskell, CEO in Central Asia Gold AB, tel: +46 76 890 5549
E-mail: preston.haskell@centralasiagold.se
