Ocean Park Receives Conditional Approval to Its Proposed Change of Business Transaction
OCEAN PARK VENTURES CORP.
1620 – 609 Granville Street Vancouver, BC V7Y 1C3
Telephone: 778 331-8505
NEWS RELEASE
OCEAN PARK RECEIVES CONDITIONAL APPROVAL TO ITS PROPOSED CHANGE OF BUSINESS TRANSACTION
February 26, 2010 - Ocean Park Ventures Corp. (the “Company”) - (NEX Board of TSX-V: OCP.H) is pleased to announce that it has received conditional approval from the TSX Venture Exchange in relation to the Company’s proposed Change of Business (“COB”) transaction.
As previously disclosed, Ocean Park has entered into an agreement with International Tower Hill Mines Ltd. ("ITH") in respect of ITH's "Chisna" copper/gold project. The proposed joint venture constitutes a COB by Ocean Park. Upon completion, the Company’s stock exchange listing will transfer from NEX to TSX Venture Tier 2 as a Mining Issuer.
Pursuant to the applicable regulatory requirements, the Company has filed a NI 43-101 Technical Report on the Chisna Copper Gold Project, Chistochina Mining district, South-Central, Alaska, dated January 28, 2010. The technical report was completed by Christopher N.A. Taylor, P. Geo. and is available under the Company’s profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com.
The Company has also filed a comprehensive Filing Statement, dated February 24, 2010, detailing the proposed COB transaction. The Filing Statement is now available under the Company’s profile on SEDAR.
The COB remains subject to final approval from the TSX Venture Exchange following satisfaction of the outstanding conditions to closing, including the obtaining of shareholder approval by the Company. Closing is anticipated by mid-March.
We seek Safe Harbor.
OCEAN PARK VENTURES CORP.
On behalf of the Board
"Donald Gee"
Donald Gee, CEO/President/Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This new release may contain forward-looking statements. These statements are based on current expectations and assumptions that are subject to risks and uncertainties. Actual results could differ materially because of factors discussed in the management discussion and analysis section of our interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. We do not assume any obligation to update any forward-looking statements.
For more information about Ocean Park Ventures Corp. please contact:
Donald Gee, President and CEO (604) 618-3433
A/008136000/66118.1