North Atlantic Resources Ltd. Retains Renmark Financial Communications Inc. and Small Cap Invest Ltd.
TORONTO, ONTARIO -- (Marketwire) -- 02/16/11 -- North Atlantic Resources Ltd. (the 'Company' or 'North Atlantic') (TSX VENTURE: NAC) is pleased to announce that it has retained the services of Renmark Financial Communications Inc., a Montreal based investor relations firm, and Small Cap Invest Ltd., a German based financial advisory and investor relations firm, to provide investor relations and financial advisory services.
'We are pleased to announce that we have selected these professional firms to reinforce North Atlantic's profile in the financial community and enhance the visibility of our gold exploration projects in West Africa. We have chosen these firms because their standards and professional methodologies fit best with the message we wish to communicate to the investing public,' noted Scott Waldie, President and CEO of North Atlantic.
Renmark Financial Communications Inc.
Renmark is a full service investor relations firm representing small, medium and large cap public companies trading on all major North American exchanges. Renmark will provide general investor relations services to the Company, assisting with dissemination of corporate information. The agreement with Renmark is for a 12-month term starting February 15, 2011, at a monthly fee of $7,000. Renmark Financial Communications does not have any interest, directly or indirectly, in North Atlantic or its securities, or any right or intent to acquire such an interest.
Small Cap Invest Ltd.
Small Cap Invest Ltd. is a financial services provider for small and mid cap companies, with a focus on growth companies which are or intend to be listed on a European exchange. The consulting agreement for investor relations and financial advisory services to be provided by Small Cap Invest Ltd. is on a month by month basis and may be terminated by either party on 30 days notice. Small Cap Invest Ltd. will receive fees of $750 per month plus reimbursement of applicable disbursements. North Atlantic has also granted to Small Cap Invest Ltd. an incentive stock option to purchase up to 50,000 common shares of North Atlantic at a price of CAD $0.53 per share. The term of the option ends on the earlier of (i) February 15, 2016, and (ii) thirty days after the termination date of the consulting agreement. The option vests as to 12,500 common shares on each of the dates which is three, six, nine and twelve months following the date of grant.
Employee Stock Option
The Company has also granted an incentive stock option in respect of 100,000 common shares to an employee of the Company. The option was granted pursuant to the Company's existing Stock Option Plan, is exercisable at $0.53 per share (being the closing price of the Company's common shares on February 14, 2011), and has a five year term expiring February 15, 2016.
About The Company
North Atlantic Resources Ltd. is a mineral exploration and development company focused on exploring for gold in the Republic Of Mali, West Africa. Our four main projects are the Tiekoumala, Lakanfla, Diokeba, and Dalakan projects. In recent years, we have made significant gold discoveries on the Tiekoumala project located in Southern Mali, and the Lakanfla project located in Western Mali. North Atlantic has 58,826,124 common shares issued and outstanding (82,543,018 shares on a fully diluted basis). Please visit our website www.nac-tsx.com to for more information about our projects.
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:
North Atlantic Resources Ltd.
Scott Waldie
President & CEO
(416) 703-6348
info@nac-tsx.com
Renmark Financial Communications Inc.
Jason Roy
(514) 939-3989 or (416) 644-2020
jroy@renmarkfinancial.com
Renmark Financial Communications Inc.
Matthew Planche
(514) 939-3989 or (416) 644-2020
mplanche@renmarkfinancial.com
www.renmarkfinancial.com