Afri-Can Marine Minerals Corp. has engaged Paradox Public Relation Inc. of Montreal to provide investor relations services for the company.
Paradox provides strategic counsel to small- and medium-cap companies, primarily in the resource sector. Paradox has worked with Afri-Can since 2006. Effective April 1, 2011, Paradox will provide services for a remuneration of $6,500 per month for a minimum 12-month period. A consideration of one million Afri-Can options will also be granted to Paradox. The options have a maturity date of April 1, 2013, at an exercise price of 10 cents per shares and are vested quarterly for the period of 12 months.
The primary focus of the planned investor relations campaign is to introduce Afri-Can to a wider audience within the North American investment community including investment advisers, sell side analysts and institutional investors.
On another matter, Afri-Can Marine Minerals announces that its board of directors, by a resolution adopted on May 15, 2011, has authorized the extension until May 20, 2012, of the 2,187,500 share purchase warrants set to expire on May 6, 2011, and of the 680,000 share purchase warrants set to expire on May 20, 2011. These warrants have an exercise price of 15 cents. As of today, 235,000 purchase warrants expiring on May 6, 2011, have been exercised.
The extensions are subject to the approval of regulatory authorities.
