First Gold Exploration Retains Octobaan IR to Broaden Company's Market Following in European Markets and Starts Listing Procedures for the US OTCQX Stock Market
LAVAL, QUEBEC -- (Marketwire) -- 07/20/10 -- First Gold Exploration Inc. (TSX VENTURE: EFG)(FRANKFURT: F12) is pleased to announce that it has retained Octobaan IR to play a significant role in broadening EFG's visibility in the European markets. Octobaan IR is headed by Matthew Harrington and Douglas Murray, two very respected IR professionals.
The service agreement with Octobaan IR is for a twelve-month period but may be terminated by either party at the end of a six-month period. Octobaan IR will receive a fee of $4,000 per month for the 12-month term of the agreement, as well as a stock option to purchase up to 500,000 shares. The first 250,000 shares of the option are granted at the start of services and are exercisable at a price of $0.40 per share for a period of two years. The option vests as to one-quarter of the options granted on a quarterly basis over the ensuing year. If the agreement is extended beyond the initial six-month period, Octobaan IR will be granted an option for an additional 250,000 shares at a strike price to be determined on or around January 13, 2011, also for a two-year term and subject to vesting on a quarterly basis over the ensuing year from the date of grant. This service agreement is subject to TSX Venture Exchange approval.
'We are very pleased to have Octobaan IR join the Company's expanding communications team. Octobaan IR will be building the Company's visibility in the European markets, predominately to utilize and create liquidity on our Frankfurt listing (F12.F) for overseas investors, and ensuring that these markets understand the Company's promising developments,' said Eric Leboeuf, President of First Gold Exploration.
'Octobaan's European following will surely enjoy being presented with a solid, very well diversified company like First Gold Exploration,' added Douglas Murray, Partner at Octobaan IR.
First Gold Exploration has also initiated the US OTCQX listing process. The Company feels that it can generate considerable interest for its rare metals project south of the border.
'With the US being very reliant on outside sources for rare metals, it will surely help First Gold Exploration's visibility to have the right to disseminate our press releases in that country and contact US brokerage house, as well as S&P initial coverage of EFG,' noted Eric Leboeuf, President of First Gold Exploration.
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.
Contacts:
First Gold Exploration Inc.
Jean-Sebastien Lavallee
819-354-5146
jslavallee@consul-teck.com
www.firstgoldexploration.com