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| | Wed Jul 22, 2009
Island Arc Announces Investor Relations Agreement
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| | Vancouver, British Columbia - Island Arc Exploration Corp. (the "Company") has entered into an investor relations agreement dated July 16, 2009 (the "Agreement") with Senergy Communications Inc. ("Senergy"), pursuant to which Senergy will provide investor relations services to the Company effective July 22, 2009. The Agreement is for a term of one year, unless terminated earlier by the parties in accordance with the Agreement. The Agreement and all transactions contemplated therein are subject to the approval of the TSX Venture Exchange.
Pursuant to the Agreement, Senergy will assist the Company, among other things, with procuring meetings with various mining analysts and brokers, developing an advertising program and a program to create investor awareness of the Company and to contact potential investors, advising and attending conferences and trade shows and assisting in developing corporate presentations. In consideration of the services, the Company will pay Senergy, from its current working capital, a fee of $5,000 per month, payable on the 22nd business day of each month. The Company will also reimburse Senergy for all reasonable expenses incurred by Senergy. In addition, the Company has granted to Senergy 300,000 incentive stock options to acquire common shares of the Company at an exercise price of $0.10 per share until July 22, 2010, subject to vesting provisions pursuant to Exchange policies.
About Senergy Communications Inc.
Senergy, with an address at 1980 -1075 West Georgia St. Vancouver, BC, is a full-service corporate communications firm, providing strategic investor relations, public relations and marketing solutions. It is wholly owned by Anthony Zelen. The Company and Senergy are at arms' length to each other. Other than the stock options granted in connection with the Agreement, Senergy has no interest, directly or indirectly, in the Company or its securities, or any right or intent to acquire such an interest.
For additional information, please contact:
James T. Gillis, President & CEO
Telephone: (250) 828-8728
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Island Arc Exploration Corp. believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of Island Arc Exploration Corp.'s management on the date the statements are made. Except as required by law, Island Arc Exploration Corp. undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. |
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