Gold Bullion Development Corp. announced the closing of the transaction with Takara Resources Inc. to acquire certain properties of Gold Bullion. Mr. Frank Basa, Director, President and Chief Executive Officer of Gold Bullion and Mr. Jacques Monette, Director of Gold Bullion, will take positions on the Takara Board of Directors.

The new Board of Takara will consist of five Directors, Frank Basa, Jacques Monette, Dianne Tookenay, Chris Hopkins and John Gingerich. Mr. Basa has been as appointed President and Chief Executive Officer, Mr. Hopkins has been appointed as Chief Financial Officer and Linda Shewchuk has been appointed as Corporate Secretary of Takara. The Audit Committee will consist of Frank Basa, Jacques Monette and John Gingerich, of which Frank Basa is Chair.