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VANCOUVER , BC / ACCESSWIRE / January 21, 2021 / Megastar Development Corp. ("Megastar", or the "Company") (TSXV:MDV)(Frankfurt:M5QN)(OTC PINK:MSTXF) announces that its Board of Directors (the "Board") has approved a name change to Madoro Metals Corp., subject to approval from the TSX Venture Exchange. Management believes the new name better reflects the focus of the Company as a Mexican-centric explorer, pursuing opportunities around the Sierra Madre de Oaxaca ("Mad") for precious metals ("oro") exploration.
The Company is also pleased to announce that Brian Ostroff has been named Executive Chair of the Board following his appointment as Director at Megastar's recent AGM. Mr. Ostroff graduated from the University of Toronto (1986) before beginning his career in finance. Through his career, Mr. Ostroff has held positions in many areas of the capital markets industry including sales, M&A advisory and proprietary trading. In 2009, Mr. Ostroff joined Windermere Capital as a partner where he focused on the small and mid-cap resource sector. Mr. Ostroff was named to the Board of Arianne Phosphate in 2014 and has served as CEO there since 2016.