TORONTO, ONTARIO — (Marketwire) — 02/19/13 — 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
Contacts:
Danbel Ventures Inc.
Mr. Barry Polisuk
President and Chief Executive Officer, Director
416-869-1234