CALGARY, ALBERTA--(Marketwire - Nov 19, 2012) - Sunridge Energy Corporation (the "Corporation") (TSX VENTURE:SRG) is pleased to announce that it has entered into an Investor Relations consulting services agreement (the "Agreement") with Macam Investor Relations consultants ("Macam IR").
Macam is engaged in the business of providing investor relations consultancy services and possesses an extensive background in the investment community which includes investor relations for both public and private corporations. Macam IR is a Calgary based IR firm founded in 2002 and is 100% employee owned.
The Agreement has an initial term of twelve months (subject to earlier termination pursuant to the terms thereof), pursuant to which Macam will provide investor relations services to the Corporation including promoting the purchase and sale of securities of the Corporation in accordance with the policies of the TSX Venture Exchange. Macam will receive monthly compensation of $6,600 per month. The Corporation will use funds from its general working capital to provide Macam''s compensation.
In addition, Macam will receive reimbursement for related expenses and an aggregate of 500,000 options to purchase common shares in the capital of the Corporation ("Options") pursuant to the terms of the Corporation''s stock option plan. The Options will have exercise prices as follows: 125,000 Options at an exercise price of $0.15 per Option; 125,000 Options at an exercise price of $0.15 per Option; 125,000 Options at an exercise price of $0.20 per Option; and 125,000 Options at an exercise price of $0.20. The Options will have an expiry date of two (2) years from the date of the Agreement or if the Agreement is earlier terminated 30 days from such termination date. The Corporation may, at its complete discretion, accelerate the vesting provisions if it deems it to be in the Corporation''s best interests.
The Agreement between the Corporation and Macam IR is subject to acceptance of the TSX Venture Exchange.
In addition, the Corporation advises that it has agreed to issue stock options for an aggregate of 410,000 common shares to directors, officers and employees at an exercise price of $0.15 per share. Options on an aggregate of 375,000 common shares are being issued to directors and officers of the Corporation.
Sunridge Energy Ltd. is an Alberta-based exploration and production company focused on cost effective, sustainable oil development projects.
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management''s current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Sunridge cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Sunridge''s control. Actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Sunridge undertakes no obligation to publicly update or revise forward-looking information.