DENVER, Sept. 21, 2005 (PRIMEZONE) -- Chelsea Management Group Inc. (Other OTC:CLMP) announced today that the company has successfully acquired a controlling interest in Stonebridge Resources Explorations Ltd. The acquisition was a private transaction for an undisclosed amount.
Chelsea will be reviewing the structure and assets of the company and intends to have it operating independently as a subsidiary. It is the company's intention to broaden its holdings to non-core business-related industries. The acquisition of Stonebridge constitutes the company's initial investment into the Resource Sector.
Stonebridge Resources Explorations Ltd. (Pink Sheets:SBGX) is a junior resource and exploration company concentrating on acquiring and consolidating large advanced exploration-stage companies with near-term production growth potential and acquiring this growth initiative into a profitable and socially responsible manner. For further details on Stonebridge please visit the website at www.sbgxexpl.com.
About Chelsea Management Group Inc.
CHELSEA MANAGEMENT GROUP is a start-up and early-stage venture capital firm focused on the health and life sciences industry. Formed in 2001, CHELSEA searches for the winners of tomorrow -- entrepreneurs whose ideas and talents qualify them to pursue large market opportunities successfully. We seek opportunities across a broad spectrum including biotechnology and pharmaceuticals, medical devices, services and healthcare/life sciences information technology. On a selective basis, we also consider later-stage health and life sciences investments where we can uniquely apply Chelsea's industry and capital markets experience.
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