CALGARY, ALBERTA--(Marketwired - April 9, 2014) - MAGNUM ENERGY INC. ("Magnum" or the "Corporation") (TSX VENTURE:MEN) Magnum is pleased to announce that it has engaged Steel Rose Communications (the "Consultant") to provide investor relations services to Magnum effective April 1, 2014.
In connection with the engagement, Magnum has entered into a consulting agreement with the Consultant pursuant to which the Consultant shall be paid CAN $5000 per month commencing on April 1, 2014. After September 30, 2014, the contract is terminable upon 30 days written notice by either party. Pursuant to the consulting agreement, Magnum has granted 250,000 stock options to the Consultant exercisable into common shares at an exercise price of $0.10. The options shall vest as to 25% on April 1, 2014 and 25% every three months thereafter. The granting of the options is subject to the approval of the TSX Venture Exchange.
About the Consultant
Steel Rose Communications is a full service Investor Relations and Corporate Communications Consultant Company based in Vancouver, British Columbia. Steel Rose works primarily with small to mid-cap public companies focusing on the resource and energy sectors. Jon Bey is the President of Steel Rose Communications and will be responsible for the activities related to Magnum Energy Inc.
Steel Rose Communications will increase awareness of Magnum Energy Inc. through presentation meetings with investment professionals, investment advisers and money managers focused on the microcap market space.
Steel Rose Communications currently has no direct or indirect interest in the securities of Magnum Energy Inc, or any right or intent to acquire such an interest except pursuant to the exercise of the above referenced options. The appointment of Steel Rose Communications as an investor relations consultant of Magnum Energy Inc. and the granting of options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
About Magnum Energy Inc.
Magnum is a junior oil and gas producer with operations located in the Western Canadian Sedimentary Basin. The Corporation produces from Viking oil operations in Alberta, gas operations in Alberta and maintains a 100% ownership of the Sedalia gas facility in East-Central Alberta.
Neither 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 release.