GREY:ADAIF - Post by User
Post by
retep6on Apr 20, 2007 9:34am
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Post# 12644950
New IR dept
New IR deptACADIAN GOLD ENGAGES INVESTOR RELATIONS SERVICES FROM MICHAEL BAYBAK AND COMPANY, INC.
SCOTIA ZINC-LEAD MINE TO START-UP
Halifax, Nova Scotia CANADA, April 20, 2007 /FSC/ - Acadian Gold Corporation (TSX - VX: ADA), ("Acadian Gold") announced today that it has entered into a twelve month contract with Los Angeles, California based Michael Baybak and Company, Inc. ("MBC") to conduct institutionally-oriented investor relations programs on behalf of the Company. Headed by Mr. Michael Baybak, MBC is a long-term institutional and media investor relations specialist in the natural resource sector, with a focus on introducing Canadian resource companies of merit to broader institutional and retail investor audiences.
Acadian Gold will pay MBC a monthly fee of US$7,000 for the one-year term of the agreement, but has the option of terminating the agreement after the first five months of service. Acadian Gold may renew the agreement after the first year of services. A two-year stock option to acquire 600,000 common shares of Acadian Gold ("Shares") exercisable at CDN$1.10 per Share will be issued to a principal of MBC, subject to regulatory approval. The option vests in four stages, with 25% (150,000 Shares) vesting at the end of each quarter during the twelve month term of the agreement.
Scotia Mine (Zinc-Lead)Update
Excellent progress is being made with plant refurbishment now complete and initial throughput of low grade ore scheduled to commence April 27, 2007.