NEWS: Sheltered Oak Resources Engages CHF Investor Relations
posted on
May 01, 2009 08:22AM
100% interest in Kerrs gold property; Phase 5 drill program in Q2 2010; NI 43-101 resource estimate Q3 2010; along strike EXS-v recent high-grade (16.6 g/t Au over 12m) discovery
Thanks to Goldhaven...
TORONTO, May 1 /CNW/ - Sheltered Oak Resources (TSX Venture: OAK) announced today that, it has retained CHF Investor Relations (Cavalcanti Hume Funfer Inc., "CHF"), Canada's only Investors Relations ("IR") firm whose management team's combined experience accounts for a full century working in brokerage, trading, financial analysis, and investment sales, over and above another century of individual experience in investor relations.
Robert K. Hanson, Sheltered Oak Resources' CEO, commented, "We are delighted to have engaged CHF as our investor relations counsel. Having known Cathy Hume from our 'Bay Street' days, it'll be a real pleasure to be working together with her team. The next 12 months will be especially exciting and revealing for OAK as we move, through exploration, toward an updated NI 43-101 and resource estimate and model."
Effective immediately, the IR services agreement is for a fixed term of twelve months, subject to a satisfactory performance review at the six-month mark. In the absence of termination notice, services may continue past April 30, 2010, on a month by month basis allowing for cancellation upon three months' termination notice by either party. The agreement compensates CHF with monthly fees at C$5,000 and incentive stock options. The Company has granted CHF in the amount of 150,000 stock options exercisable at C$0.20 per share on the TSX Venture Exchange for a period of three years which is the same duration as those granted to directors of the Company this year. Further, 50% of these options shall vest at six months following the date of execution of the IR Agreement and the other 50% at twelve months. All options are subject to cancellation 30 days after termination of the IR contract as dictated by the TSX Venture Exchange for Tier 2 Issuers.