Silvore Fox Minerals Corp. (TSXV: SFX) (the "Corporation") is pleased to announce that it has entered into an agreement (the "IR Agreement") with The Howard Group Inc. ("The Howard Group ") to develop and implement an investor relations program for the Corporation by introducing the Corporation to brokers, analysts, investors, the media and the general public and by making recommendations on public relations materials, which mining shows to attend, booth set-up and advertising media.
The term of the IR Agreement is for an initial period of 12 months. The IR Agreement may be renewed upon mutual agreement. In addition to a fee equal to $7,000 per month, plus applicable taxes, the Corporation has granted The Howard Group an option to purchase an aggregate total of 750,000 Common Shares of the Corporation at a purchase price of $0.13 per share, which option shall be vested at the rate of 25% per quarter with the vesting dates being July 31, 2010, October 31, 2010, January 31, 2011 and April 30, 2011. The options will expire on the earlier of May 1, 2013 and 30 days following the termination of the IR Agreement.
Since 1988, the Howard Group has provided comprehensive investor and financial relations, business development solutions, in-depth strategic planning and financing services to public companies. The Howard Group is associated with the Insight Limited Partnerships I & II, which invest in micro and small cap companies. Insight Limited Partnership I currently owns 50,000 shares of the Corporation. It is the intention to buy additional shares in the Corporation through Insight Limited Partnership II.
About Silvore Fox Minerals Corp.
Silvore Fox Minerals Corp. ("SFX") is a Bedford, Nova Scotia, Canada based public mineral exploration company with 100% mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit'). SFX has an experienced management and geological team.
The Coxheath deposit model is believed to be analogous to Pacific Rim volcanogenic porphyry copper deposits. Alteration patterns in association with the regional geological setting further suggest a possible model linking the diorite-hosted porphyry-style mineralization at Coxheath and an epithermal system approximately 4 km to the east. SFX's further recent option and joint venture agreements for the 'Oceanview', 'Nictaux' and 'Shortliff' properties, strengthens SFX's position as a regional mineral exploration company.