Iconic Retains IR Consultant and Grants Stock Options
VANCOUVER, BC / ACCESSWIRE / June 6, 2016 / Iconic Minerals Ltd. (TSXV: ICM) (FSE: YQG) is pleased to announce the Company has retained Brisco Capital Partners Corp. ("Brisco") to provide investor relations services pursuant to a consulting agreement dated June 1, 2016 (the "Consulting Agreement"), which services include initiating and maintaining contact with the financial community and the Company's shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities. Brisco, founded by Scott Koyich, is a Calgary based consultancy with a North American presence. Brisco takes a full service approach and provides creative and effective investor relations programs for Canadian Public Companies. The Consulting Agreement is for a term of one year.
Brisco will receive a monthly fee of C$7,500 plus applicable taxes from the Company and is being granted stock options (the "Options") to acquire 500,000 common shares of the Company at an exercise price of $0.30 per common share. The Options vest quarterly over a period of twelve months from the date of issuance and can be exercised for a period of two years from the date of grant.
The company further announces the grant, pursuant to its 10% Rolling Stock Option Plan that was ratified and approved by shareholders on February 16, 2016 and accepted for filing by the TSX Venture Exchange (the "TSX-V") on March 8, 2016, of options to eligible participants to purchase a total of 900,000 common shares, exercisable in whole or in part on or before June 3, 2018 at an exercise price of $0.30 per share (being the closing price of the Company's shares on June 3, 2016).
The Consulting Agreement and the grant of Options are subject to TSX Venture Exchange approval.
The following is a brief summary on the Property:
The Property is a lithium brine target. It is located within a valley that is over +20 miles (+30 km) long and 12 miles (20 km) wide into which streams from an +800 mi(2) (2,070 km(2)) drainage basin empty. The source rocks are quartz-rich volcanics that contain anomalous amounts of lithium. Sampling of salt flats within the basin have found lithium values in salt samples ranging from 50 to 340 ppm. The deeper part of a gravity low within the valley is 12 miles (20 km) long and initial estimates are the depth to bedrock ranges from 1,500 to 2,000 feet (460-610 m) within this low. The current claim block covers the gravity low and associated mud flats that could be used for evaporation ponds if significant lithium brines are discovered in drilling.
Richard Kern, Certified Professional Geologist (#11494) and CEO of Iconic is the Qualified Person who has prepared and reviewed this press release in accordance with NI 43-101 reporting standards.
On behalf of the Board of Directors
SIGNED: "Richard Kern"
Richard Kern, President and CEO
Contact: (604) 336-8614
For further information on ICM, please visit our website at www.iconicmineralsltd.com. The Company's public documents may be accessed at www.sedar.com.
Forward Statement: This news release includes certain forward-looking statements or information. All statements other than statements of historical fact included in this release are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Iconic expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
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 release.
SOURCE: Iconic Minerals Ltd.