KAT Exploration, Inc. Distributes 1 to 4 OTCBB Shares of BVIG.OB and Provides Update on Handcamp Drill Project for NI 43-101 Pre
June 08 2010 - 10:00AM
Marketwired
KAT Exploration, Inc. (PINKSHEETS: KATX) www.katexploration.com
KAT Exploration, Inc. (PINKSHEETS: KATX) will distribute to its
shareholders restricted shares of Bella Viaggio, Inc. (OTCBB: BVIG)
which trades on the Over the Counter Bulletin Board (OTCBB).
BVIG.OB was purchased for $305,000 in cash paid in full. KAT
Exploration shareholders will receive 1 restricted share of (OTCBB:
BVIG) for every 4 shares of (PINKSHEETS: KATX) owned up through the
record date to be decided by its board of directors to be executed
as early as possible. KAT Exploration shareholders will be
unaffected while having restricted shares of BVIG.OB distributed as
additional equity.
KAT Exploration has retained a Securities Law Firm that has
facilitated and completed the administrative process to submit to
FINRA for a name, ticker, and CUSIP number change for (OTCBB:
BVIG).
KAT Exploration has retained an Auditing Firm that has completed
the required audit of the Handcamp property that was placed into
(OTCBB: BVIG). KAT Exploration will manage and oversee the
operations of the (OTCBB: BVIG) Handcamp drilling program. KAT
Exploration believes that because of the expected valuation that
will come from its Handcamp and other high grade gold properties
recently discovered that it would be better suited to position the
properties within a higher market standard existing within a fully
reporting OTCBB entity.
The new name for Bella Viaggio, Inc. will be "KAT Gold Holdings Corporation" that will be the parent
company for all future OTCBB share distributions. The goal is to
later merge (PINKSHEETS: KATX) into an OTCBB entity under KAT Gold
Holdings Corporation as a wholly owned subsidiary on a 1 for 1
ratio basis. KAT Exploration will maintain all its high grade
copper properties and is aggressively preparing to take its copper
exploration and drilling programs to the next major stages of
development to be announced soon. Ken Stead, KAT Exploration, Inc.
President and CEO, said, "This OTCBB share distribution is the
first of more OTCBB share distributions that we are planning to
distribute to our shareholders. We look forward to transitioning
our shareholders out of the pink sheets market and on to the more
transparent OTCBB market for now."
KAT Exploration has received approval of its drill permit from
the Newfoundland Department of Mines and Energy to move forward
towards the drill project on its Handcamp gold property. As
previously announced, the drill contract has been awarded to Cabo
Drilling for a minimum of 15 holes and a minimum of 1200 meters.
There are approximately 20 km's of Induced Polarization (IP) that
is nearly completed over various sections of the grid to assist in
locating drill targets.
KAT Exploration recently announced that it had discoveries up to
5840 PPB of gold in soil samples and 31.4 g/t Au in the outcrop at
the Handcamp gold property from the results of 1457 soil samples
received from Actlabs in Ontario, Canada for Gold and base metal
analysis.
Geologist, Mr. R. James Weick, has been engaged to oversee the
drilling project and complete a NI 43-101 for the Handcamp
property. Mr. Weick's qualifications can be viewed by clicking the
link below. www.katexploration.com/news/Geologist_Resume.pdf
We realize that many are anxiously waiting the actual drilling
to begin. However, it is very important that initiating such a
program that advanced ground work and data be in place. Our field
crew has been in place for the past few weeks gathering all the
necessary information and geophysics data to move the project to
the actual drilling stage. We expect the actual drilling to shortly
commence as the company will release an update to inform its
shareholders. We appreciate your patience and encourage you to
monitor our website for further updates.
Jack Zwicker Kat Exploration Inc. Investor Relations Ph
902-497-3188 jzwicker@katexploration.com www.katexploration.com
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