Andover Ventures Announces Engagement of RedChip Companies for Public and Investor Awareness Efforts
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 07/05/11 -- Andover Ventures Inc. ('Andover' or the 'Company') (TSX VENTURE: AOX)(OTCBB: AOVTF)(FRANKFURT: R2X), a precious and base metal exploration and development company with mining properties located in the historic East Tintic Mining District, Utah, and the polymetallic-rich Ambler Mining District, Alaska, is pleased to announce the engagement of RedChip Companies, Inc. ('RedChip') to enhance the Company's public and investor awareness efforts.
Under the agreement, RedChip will consult for a period of 12 months. The Company will pay all out-of-pocket pre-approved expenses in relation to broker and investor presentations and meetings. In addition, the Company shall issue to RedChip, subject to TSX Venture Exchange approval, 400,000 stock options with an exercise price of $0.65 per share, exercisable for a period of 24 months. The options will vest over 12 months with vesting of 25% per 3-month period as required by TSX Venture policy.
Gordon Blankstein, CEO of Andover, stated, 'We selected RedChip as part of our investor relations team as we recognized their robust platform of products and services, as well as their long history of success in building strong investor relationships for emerging growth companies. We are confident that RedChip will significantly enhance our investor outreach efforts as we advance our key mining and exploration projects.'
Dave Gentry, President of RedChip Companies, stated, 'Gold prices have soared more than 400% over the past decade and are expected to remain strong in 2011, creating tremendous opportunities for Andover. The Company holds nearly 44,000 acres of property in two of North America's largest mining regions and expects to generate near-term cash flow from its Trixie mine in Utah, which is scheduled to begin gold and silver production later this year. We look forward to working with Andover's experienced management team as we execute a comprehensive and strategic investor relations program.'
The agreement with RedChip is subject to the approval of the TSX Venture Exchange.
About RedChip Companies, Inc.
RedChip Companies is an international, small-cap research and financial public relations firm headquartered in Orlando, Florida; with affiliate offices in Beijing, China and Seoul, Korea. RedChip delivers concrete, measurable results for its clients through its extensive national and international network of small-cap institutional and retail investors. RedChip has developed the most comprehensive platform of products and services for small-cap companies, including: RedChip Research™, Traditional Investor Relations, Digital Investor Relations, Institutional and Retail Conferences, RedChip Small-Cap TV™, Shareholder Intelligence, Social Media and Blogging Services, Webcasts, and RedChip Radio™. To learn more about RedChip's products and services, please visit: http://www.redchip.com/visibility/productsandservices.asp.
'Discovering Tomorrow's Blue Chips Today'™
About Andover:
Andover Ventures is a precious and base metal exploration and development company, headquartered in Vancouver, British Columbia, Canada. Andover Ventures' holdings are located in the historic East Tintic Mining District, Utah, USA, and the polymetallic-rich Ambler Mining District, Alaska, USA.
For further information we invite you to visit us at www.andoverventures.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
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:
Andover Ventures Inc.
Richard Martens
Investor Relations
1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
www.andoverventures.com
RedChip Companies, Inc.
Mike Bowdoin
1-800-733-2447, Ext. 110
mike@redchip.com
www.redchip.com