WPR-tsx (cdnx)? Maybe it sounds cynical but tried clicking on the link and ended up at the co. website. I'm always leery when a company doesn't appear to show their financials on their own website. I'm assuming the filings are at SEDAR however when I checked SEDAR was down for short term maintenance.
The co. did show an interesting news release that's pasted below........... possibly sounding like the pump part of the equation?
The news release doesn't specify the exact monthly amount for the "Investor" Relations agreement however it does indicate it "should not exceed $100,000 on an annual basis and be reimbursed for its out-of-pocket expenses."
Part of the process of "just getting all of its ducks in a row"?
Quack, Quack, Quack........... there's something about birds.
Date: March 28, 2002
NEWS RELEASE
WPN ANNOUNCES PRIVATE PLACEMENT,
STOCK OPTIONS AND INVESTOR RELATIONS AGREEMENT
The Company reported today that the directors had approved the granting of director and employee incentive stock options aggregating 1,720,000 shares. The options are exercisable at a price of $0.24 per share and have a term of three years.
The Company also reported that the directors had negotiated a private placement of 2,750,000 units at a price of $0.20 per unit to raise a total of up to $550,000. A unit consists of one share and one non-transferrable share purchase warrant. One share purchase warrant entitles the holder to acquire one additional common share of the Company at a price of $0.20 for a period of two years. Shares issued under the placement will be subject to a one year hold period. Proceeds from the private placement will be applied to a work program on the Company's recently acquired Italian oil concession and for working capital. The Company will pay a finder's fee in accordance with CDNX policies in respect of the placement.
The Company further announced that it had entered into an Investor Relations Agreement with Defero Inc. Communications ("Defero") of 1650 Cedar Crescent, Vancouver, B.C. Under the terms of the agreement, Defero, through its principal representative, Jason Leikam, will assist the Company's Board of Directors in coordinating its public relations program and introducing the Company to brokers and investment dealers and informing them of the particulars of the development of the business and potential of the Company. For its services, Defero will receive a monthly fee that should not exceed $100,000 on an annual basis and be reimbursed for its out-of-pocket expenses.
The grant of options, completion of the private placement and the Investor Relations Agreement are subject to CDNX approval. |
