Calgary, Alberta, Mar 23, 2015- Morro Bay Resources Ltd. (MRB) (Morro Bay or the Company) a gold and silver exploration company targeting historic mining districts in the prolific Durango Silver belt, today announced it has engaged CHF Investor Relations, (CHF) a highly regarded Canadian investor relations firm headquartered in Toronto, as its IR partner.
Mr. John Zang commented, "We are excited to retain CHF, as they have a long track record with the mining sector issuers, as well as many decades of capital markets experience. This will be a true value-added partnership for Morro Bay."
Effective immediately, the services agreement for investor relations and market-making is for a term of twelve months to March 23, 2016, subject to three months termination notice and may be extended for up to one year. Under the terms of the agreement, which is subject to TSX Venture Exchange approval, CHF will receive $7,500 on the first month and $5,000 per month thereafter in fees and reimbursement of approved expenses. CHF has been granted 300,000 options exercisable at $0.10, and 300,000 options exercisable at $0.20. The options vest quarterly over twelve months and have a five-year term. Upon termination of the services agreement, any vested options will be cancelled after 30 days, as is required for TSX Venture.
The market-making activity will be conducted using a registered broker in compliance with Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual (the "Manual"), IIROC's Universal Market Integrity Rules & Policies (2010) and other relevant policies, so that trading orders in Morro Bays shares are made to manage share price volatility and imbalances of orders in order to improve trading liquidity on the exchange. In accordance with Policy 3.4, section 2.8 of the Manual that states in part "an Issuer may not use its own funds, or provide direct or indirect compensation to other parties to undertake a market-making function in its securities," the Company and CHF confirm that capital for the purposes of market-making has not and will not be provided from the Company's treasury.
Prior to the grant of options outlined above, CHF had no direct or indirect interest in the Company or its securities.
About CHF Investor Relations
CHF's effective role is to act as the public companys outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX/TSX Venture and CSE listed companies, and others that may seek to list on North American Exchanges that operate in a broad range of industries including mining exploration and producers, oil & gas, renewable energy and industrial services, biotech, high-tech, business solutions and products. The depth of capital market experience at CHF is formidable dating back to the late 1970s.
About Morro Bay Resources Ltd.
Morro Bay is a junior mineral exploration company based in Calgary, Alberta, Canada, focused on the exploration for precious metals in Mexico. Morro Bay's business strategy is to build shareholder value by rapidly advancing the Pe[[115]]oles Project in Mexico through the resource delineation stage. Further information on Morro Bay may be found at morrobayresources.com.
Issued on behalf of the Board of Directors of Morro Bay Resources Ltd.
"John Zang "
John Zang, President & CEO
Further Information
For further information please contact:
Morro Bay Resources Ltd.
John C. Zang
President and Chief Executive Officer
T: 403 680 9264
Investors Relations:
Patrick Piette
T: 416 526 9911
Or
CHF Investor Relations
Robin Cook, Account Manager
T: 416 868 1079 x228
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Information in this news release may contain forward looking information. Statements containing forward looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the company.
There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.
The forward-looking information contained in this news release is as of the date hereof and Morro Bay does not undertake any obligation to update publicly or to revise any of the included forward looking statements contained herein, except as required by applicable law. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any state in the United States in which such offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
Original Article: http://www.fscwire.com/sites/default/files/news_release_pdf/morrobay03232015.pdf?
