Nice to see you positive on a company Elizabeth. I bought in last week and am considering adding. I also expect significant news regarding one of their projects in the short term. I knew the previous IR person and also know Blair who is an experienced and honest good guy. I've met Don Bubar on a couple of occasions and like him professionally and personally as well. Wish you'd be as positive on SRU...
Avalon Ventures Ltd. - Announcement
Toronto, Ontario
Shares Outstanding: 21,415,231
SEC 12g3-2(b): 82-4427
Avalon Ventures Ltd. (the ``Company'') is pleased to announce that, effective June 1, 2000, it has retained the services of Mr. Blair Naughty, of Toronto, Ontario, as Manager of Investor Relations for a term of at least one year. Mr. Naughty will work for the Company on a part time basis and will be responsible for developing an investor relations strategy to increase the Company's profile in the investment community, both domestically and internationally, by introducing the Company to prospective new investors and increasing investor awareness of the Company's business activities.
Mr. Naughty has over 11 years experience in the securities industry as a trader and as an investor relations consultant for three public companies. Under Mr. Naughty's employment agreement, the Company will pay Mr. Naughty for his services at the rate of $2,500 per month plus expenses, which is not expected to exceed $100,000 in the aggregate over the next 12 months. In addition, Mr. Naughty has been granted an option to purchase up to 400,000 shares of the Company at a price of $0.75 per share for a period of one year. Mr. Naughty currently owns, as of today's date, 139,000 shares of the Company, some of which may be used to participate in market-making activities.
Management is of the opinion that implementation of an investor relations strategy is warranted at this time because of the high level of on-going exploration activity on the Company's platinum, palladium and rare metals projects and the need to locate new sources of capital in order to advance the Separations Rapids project through the feasibility stage, and ultimately enhance shareholder value.
Avalon Ventures Ltd. is a Canadian junior mineral exploration and development company with a focus on the ``Metals of the Future'', specifically the high-technology metals lithium, tantalum, cesium, rubidium, palladium and platinum. For further information contact Donald S. Bubar, at (416) 364-4938. Corporate Information may also be accessed on the Internet at www.avalonventures.com.
ON BEHALF OF THE BOARD
"Donald S. Bubar"
Donald S. Bubar, President
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
SOURCE: AVALON VENTURES LTD. |
