BEIJING, CHINA--(Marketwired - Apr 23, 2013) - Mountain China Resorts (Holding) Limited (TSX VENTURE:MCG) ("MCR" or the "Company") today announced that the Company's Board of Directors (the "Board") has accepted the resignation of independent director Mr. Ermanno Pascutto effective April 5, 2013. Mr. Pascutto was an independent director of the Company and a member of the Company's audit committee and compensation, governance and nominating committee. The Company will seek to identify a new independent director to appoint to fill the vacancy created by Mr. Pascutto's departure. The Company would like to thank Mr. Pascutto for the important contributions he has made to the Company during his tenure, and wishes him well in his future endeavours.
MCR is the premier developer of four season destination ski resorts in China. MCR is transforming existing China ski properties into world-class, four seasons luxury mountain resorts with excellent real estate investment opportunities for discerning buyers. In February 2009, the Company's Sun Mountain Yabuli Resort was awarded Best Resort Makeover in Asia by TIME Magazine. Yabuli is also the permanent home of the China Entrepreneur's Forum the leading and most influential community of China's most distinguished and successful entrepreneurs and business leaders with over 5,000 members from across a variety of key industries.