Bonterra Announces Grant of Stock Options and Engagement of Investor Relations Service Providers
BONTERRA RESOURCES INC.
Suite 4006 -1011 West Cordova Street Vancouver, British Columbia, V6C 0B2
TSX.V SYMBOL – BTR FSE SYMBOL – 9BR
BONTERRA ANNOUNCES GRANT OF STOCK OPTIONS AND ENGAGEMENT OF INVESTOR RELATIONS SERVICE PROVIDERS
Vancouver, BC – February 22, 2011: BonTerra Resources Inc. (BTR: TSXV) (the “Company”) announces that it proposes to grant 1,700,000 stock options (the “Options”) to directors, officers and consultants to the Company, at an exercise price of $0.45 per Option. Each Option will have an exercise term of one (1) year.
The Company also announces that in connection with the proposed engagement of Deutsche Investor-Relations GmbH (“DIRG”) and ResourceX Capital Corporation (“ResourceX”) (collectively, the “IR Service Providers”) as investor relations service providers to the Company, the Company proposes to grant 150,000 stock options to DIRG and 100,000 stock options to ResourceX (collectively, the “IR Options”), at an exercise price of $0.45 per IR Option. All of the IR Options have an exercise term of one (1) year. In addition, pursuant to the policies of the TSX Venture Exchange (“TSXV”), all IR Options must vest over 12 months from the issuance date, with 25% vesting in each three (3) month period after the grant of the IR Options. The engagement of the IR Service Providers is subject to a review by the TSXV.
DIRG
DIRG and the Company are at arm's length.
DIRG is a Berlin-based investor relations firm that provides a multitude of investor relations services to publicly traded companies looking to establish support in German-speaking Europe. DIRG will create an on-line presence for the Company through the creation of a corporate profile on the Wallstreetonline German website, with the intent of creating a multifaceted investor relations program based on the profile.
Pursuant to an agreement between DIRG and the Company, DIRG will be paid 2,000 Euros per month to provide such services for an initial term of six months, subject to an automatic sixmonth renewal, unless cancelled in advance by either party.
ResourceX
ResourceX and the Company are at arm's length.
ResourceX is a Vancouver-based investor relations firm that provides media development and distribution services. ResourceX will engage in publication of articles, interviews, comparisons, and anecdotes, distribute such Items to financial sites on the Internet and distribute electronically to the private subscriber list of Midas Financial Publishing Group and ResourceX Capital Corporation.
In the event this agreement is not terminated 90 days after its initial effective date, the Company will grant a further 100,000 stock options to ResourceX at a price to be determined in accordance with the policies of the TSXV.
Pursuant to an agreement between ResourceX and the Company, ResourceX will be paid $15,000 + HST upon signing of the agreement, $15000 + HST one month after signing, and then a fee of $10,000 + HST every second month thereafter for a total of three payments over a six month period. The term of the agreement is for 12 months, unless cancelled in advance by either party.
ON BEHALF OF THE BOARD
BONTERRA RESOURCES INC.
/s/ Mitchell Adam Mitchell Adam President, Director
For further information contact:
Mitchell Adam [email protected] www.bonterraresources.com Tel: (604) 678-5308
Neither 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.