Galahad names Malcolm and Meredith as IR reps2009-02-03 09:21 ET - News Release
Mr. Robin Dow reports
GALAHAD METALS APPOINTS MALCOLM, MEREDITH AS INVESTOR RELATIONS REPRESENTATIVES
Galahad Metals Inc. has appointed Lindsay Malcolm and Wayne Meredith as its in-house investor relations representatives. The initial term of the engagement will be 12 months. Both Mr. Malcolm and Mr. Meredith have had extensive backgrounds and experience with a number of TSX Venture Exchange companies, both in mining/resource and other sectors.
They will be responsible for all aspects of the company's investor relations program to implement and execute an investor relations strategy to significantly improve shareholder and investor communications. The objective will be to create effective communication between the company, its shareholders and the investment community. They will also work closely with Bay Street Connect, the company's external investor relations consultant.
Mr. Malcolm and Mr. Meredith have enjoyed a 20 plus year career in the public markets dedicated to investor relations and corporate communications. They have been involved with many exploration projects and development stage projects. The goal is to empower shareholders to rely on and consult with the company to ensure that they have the most recent information. Both are Vancouver residents. They will be compensated at $2,500 monthly and will be granted options to be determined at a future date.
"The addition of these gentlemen to the management team at GAX will provide our shareholders and the financial community with a single point of contact for reliable information concerning the activities of the company, as well as significantly expanding Galahad's reach into Western Canada," commented Robin Dow, chief executive officer. "Importantly, having a dedicated investor relations function will certainly free up management's time and allow for an increased focus on strategic management. While current personnel remain accessible, I invite any interested shareholders to give them a call on our investor phone number, 604-569-2508, at their convenience."
The company has also granted to certain directors and contractors 70,000 stock options, exercisable at 10 cents to Jan. 15, 2014.
The appointments and options are subject to TSX-V and other applicable regulatory approval.
Galahad Metals has three active gold projects. The new Kellyn project north of Superior, in Ontario, has multiounce per ton gold and silver values, as well as enhanced rare earths. As a matter of clarification, the agreement stipulates, as already released, that under the terms of the agreement, Galahad is required to pay to the optionors, subject to the approval of the TSX-V, $6,000 and 100,000 shares of Galahad upon signing and on the first anniversary, and that Galahad has the option on the second and third anniversaries to maintain the same payment, or to make a single payment of $12,000 or to pay 200,000 shares, whatever Galahad deems appropriate at the anniversary date.
At the Montrose gold property, near Matachewan, Ont., the company is currently concluding an IP survey, and work continues at the very prospective Bottle Creek gold-silver project in Nevada.
We seek Safe Harbor.