Post by
nopoo on Jan 21, 2014 4:16pm
CLD rehires Torrey Hills, grants options
CANGOLD RE-ENGAGES INVESTOR RELATIONS CONSULTANTS; GRANTS STOCK OPTIONS
Cangold Ltd. entered into a new consulting agreement with San Diego Torrey Hills Capital Inc. on Jan. 20, 2014, for the provision of investor relations services, including developing, co-ordinating, managing and executing a comprehensive corporate finance and investor relations campaign for the company. The agreement is for an initial term of six months. After the initial six-month term, the agreement shall terminate at any time upon 30 days written notice by either party.
San Diego Torrey Hills Capital is a consulting services company based in Rancho Santa Fe, Calif. The consultant has previously provided investor relations services to Cangold and certain principals of the consultant have previously purchased shares of the company.
As compensation for the consulting services provided by the consultant, Cangold will pay a monthly fee of $5,000 (U.S.), commencing three months from the signing of the agreement and has granted the consultant an option to purchase a total of 100,000 common shares at 10 cents per share. The options vest as to 25,000 shares on April 21, 2014, and 25,000 shares every three months thereafter until Jan. 21, 2015. The options expire Jan. 20, 2017.
The company also announces that it has granted stock options to directors, senior officers, employees and other consultants to purchase an aggregate of up to 935,000 shares. The options are exercisable at a price of 10 cents per share and expire five years from the date of grant.