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Oro Silver Resources Ltd. has entered into a services agreement (the “IR Agreement”) on October 15, 2008 with Contact Financial Corporation (“Contact Financial”) of Vancouver, British Columbia.
Contact Financial is a provider of global investor relations services for companies listed on the TSX and the TSX Venture Exchange (the “Exchange”). Under the IR Agreement, they will provide the Company with expertise and assistance in the areas of investor relations, general shareholder relations, investor database development and corporate consultation; and will be involved in the introduction of the Company to relevant industry analysts, institutional and retail investors throughout North America and Europe. In collaboration with the Company, Contact Financial will also undertake a range of activities, including company information dissemination to interested parties and inquiry responses.
In return for the services provided, Oro Silver will pay Contact Financial a fee of CAD$8,000 plus GST per month for a term of three months. The IR Agreement may be extended upon mutual agreement of the parties in writing on a month to month basis, and is subject to approval by the Exchange. Concurrently, subject to the parties signing an option agreement and the Exchange approval, the Company will grant Contact Financial an aggregate of 200,000 options to purchase common shares of the Company at a price of $0.45 per share until October 15, 2013. In compliance with the requirements of Policy 4.4 of the Exchange, the options will vest in four equal quarterly stages. Additionally, any shares acquired upon exercise of the options are prohibited from resale for a four-month period from the date of grant.
To the Company’s knowledge, Contact Financial owns 83,333 common shares and 41,666 warrants of Oro Silver representing in aggregate approximately 0.38% of Oro Silver’s issued and outstanding common shares. Other than disclosed herein and with the exception of the stock options being granted to Contact Financial pursuant to the terms of the IR Agreement, Contact Financial has no other interest in Oro Silver or its securities.
On behalf of the Board of Directors,
Darren Bahrey, President
Suite 1400-625 Howe Street, Vancouver BC V6C 2T6
Telephone: 604 646-1588
Facsimile: 604 642-2411
www.orosilver.com
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
Some statements in this release may contain forward-looking information. These statements include, but are not limited to, statements with respect to future exploration, development and production activities, future acquisitions and future expenditures. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the time and success of future exploration, development and production activities, the timing of future acquisitions and the timing and amount of expenditures.
