If only I had more cash....
Excelsior hires Sterling Marketing for IR
2014-08-07 16:13 ET - News Release
Mr. Mark Morabito reports
EXCELSIOR PROVIDES MARKETING UPDATE AND EXTENDS STOCK OPTIONS
Excelsior Mining Corp. has engaged Sterling Marketing Corp. to assist in the creation and implementation of a comprehensive marketing and investor communications program for the company.
Sterling is based in Vancouver, and provides marketing and investor relations services to public companies in the resource sector. The principal and owner of Sterling is Scott Gibson. Sterling will be responsible for advising the company with respect to corporate development, maximizing value for shareholders, increasing the company's exposure to potential shareholders, as well as managing and increasing the effectiveness of the company's marketing and communications materials.
Mr. Gibson, chairman of Sterling, states: "I am excited about working with the Excelsior team and specifically working again with Mark Morabito, who has the proven ability to develop and finance high-quality assets like the Gunnison copper project. It is the strength of the management team and the economics of Gunnison that make Excelsior such an attractive opportunity."
Under the terms of the agreement and subject to TSX Venture Exchange approval, Sterling will receive a fee of $10,000 per month, and be granted stock options to purchase 600,000 common shares of the company at a price of 25 cents per share for a period of five years. The options shall vest quarterly in accordance with the policies of the TSX Venture Exchange and the company's stock option plan. The company has sufficient cash in its treasury to pay the fees for Sterling's services. The agreement with Sterling is for a period of one year.
Sterling is independent of the company, and does not have any direct or indirect interest in the company, except for the ownership of common shares of Excelsior by its principal. Sterling and its principals do not engage in market-making activities, and the firm will restrict its services to public relations and investor relations consulting. Sterling will provide its services from its offices located in Vancouver.
Excelsior would also like to confirm that the engagement of Liolios Group Inc. as an investor relations consultant was terminated in April, 2014.
The company also announces that, subject to TSX Venture Exchange approval, it intends to extend the term of a total of 5,829,667 stock options, which are currently scheduled to expire on Dec. 18, 2014, May 5, 2015, and Oct. 14, 2015. The options were issued with an original term of five years, and the term will be extended such that their new expiry date is Dec. 31, 2018.
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