The Company engaged Grandich to develop and implement a public and investor relations program which includes communicating with analysts and other professionals and enhancing Spanish Mountain's exposure to industry stakeholders and investors. Grandich's engagement is for a 12-month period, subject to termination by either party on 30 days notice. The Company will pay Grandich US$6,000 in advance for the initial three months of service and a monthly fee of US$2,000 for each successive month thereafter; and reimburse Grandich for all reasonable expenses incurred in connection with the fulfillment of its obligations. In addition, the Company shall grant Grandich incentive stock options to acquire up to 150,000 common shares of the Company at an exercise price of $0.43 per share for a term of three years, subject to the provisions of the Company's stock option plan.
Grandich publishes The Grandich Letter (first published in 1984) providing coverage of the metals and mining industry and is Chief Commentator of Agoracom.com, one of North America's largest online small-cap investment centers, where he writes a daily online blog at www.grandich.agoracom.com. He also provides a variety of corporate finance and development services to publicly-held companies and is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.
Other than the grant of stock options, Grandich neither holds any securities of the Company nor has any interest, direct or indirect, in the Company. The Company's engagement of Grandich to perform marketing and investor relations services is subject to the acceptance of the TSX Venture Exchange.
About Spanish Mountain
Spanish Mountain is a well-funded resource company focused on advancing its flagship Spanish Mountain gold project in central southern British Columbia. For more information, please visit www.spmtngold.com.
On Behalf of the Board,
SPANISH MOUNTAIN GOLD LTD.
Brian Groves
President
Contact:
Bill Gillies
(604) 601-3651
or
B&D Capital Partners
(604) 685-6465
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.
