BrazAlta Changes Name, Elects New Board of Directors

BrazAlta announced that effective at the opening February 13, 2008, the common shares of Canacol Energy Ltd. (formerly BrazAlta Resources Corp.) will commence trading on TSX Venture Exchange. The trading symbol will be changed to "CNE" from "BRX". There is no consolidation of capital in conjunction with this name change.

The name change was approved by the shareholders of the Corporation at the annual meeting held on February 6, 2009. At the annual meeting the Corporation's shareholders also elected Charle Gamba (President and CEO), Michael Hibberd (Chairman), Alvaro Barrera, Stuart Hensman, Jason Bednar, David A. Winter, and Luis Baena as directors of the Corporation to hold office until the next annual meeting or until their successors are elected or appointed. Biographical information regarding the board members may be found in the news release of the Corporation dated January 8, 2009.

The changes to the board of directors conclude the change of management and board members contemplated in connection with the acquisition of Canacol Energy Inc. in October 2008.