|By Marketwired .||
|February 19, 2013 09:32 PM EST||
TORONTO, ONTARIO -- (Marketwire) -- 02/20/13 -- Danbel Ventures Inc. ("Danbel" or the "Company") is pleased to announce the appointment of Ernst & Young LLP ("E&Y") as its auditors, replacing Collins Barrow Toronto LLP ("Collins Barrow"). The Company's Board of Directors and its Audit Committee approved the appointment of E&Y, accepted the resignation of Collins Barrow and reviewed all the documents relating to the change of auditors. Collins Barrow resigned as auditors at the Company's request and there were no reservations in the auditors' report by Collins Barrow in respect of the Company's financial statements issued during the period commencing on January 1, 2010, being the date of commencement of the Company's two most recently completed audited financial years, and ending on December 31, 2011.
In accordance with all regulatory requirements, Danbel has filed a Notice of Change of Auditor and has received a response letter from Collins Barrow, the former auditors, confirming their agreement with the information provided in the Notice. The Company also received a response letter from E&Y, the successor auditors, confirming their agreement with the information provided in the Notice.
Danbel continues to seek opportunities to acquire an operating business or complete a transaction and, if so, Danbel intends to make an application to list its shares on a stock exchange. There is no assurance that the Company will be successful in these endeavours.
Shares Outstanding: 667,716
Danbel Ventures Inc.
Mr. Barry Polisuk
President and Chief Executive Officer, Director