VANCOUVER, Sept. 27, 2012 /PRNewswire/ - Robert L. Card, President of Arrowstar Resources Ltd., ("Arrowstar" or the "Company") (TSXV: AWS), is pleased to announce that it has engaged Lawrie Koyle ("Koyle") of Vancouver B.C. to provide investor relations, corporate communications and marketing services to the company.
The Mr. Koyle will use his expertise to implement an investor relations program that will expose the Company to a broad range of potential investors including relevant industry investors and stakeholders through available mediums including traditional outreach marketing methods.
Robert L. Card, President and C.E.O. of the Company commented: "We are very pleased to begin working with Mr. Koyle on our Iron Ore projects in Alaska, Quebec and Labrador."
The Service Agreement ("Agreement") between the Company and Mr. Koyle is for an initial term of twelve (12) months beginning September 26, 2012 and may be extended upon mutual consent of both parties. In consideration for the investor relations, corporate communications and marketing services, Koyle will be paid a monthly fee of $4,500 out of working capital of the Company and will receive 200,000 stock options ("Options") to purchase common shares in the capital of the Company at an exercise price of $0.10 per share. The options will be vest over a twelve (12) month period in accordance with the policies of the TSX Venture Exchange and expire five (5) years from the date of grant or earlier if the Agreement is terminated prior thereto. The Agreement is subject to regulatory approval and all terms will be subject to and in accordance with the rules and regulations of the TSX Venture Exchange.
In addition, the Company has granted additional 910,000 stock options to Directors, Officers and employees under the Company's Stock Option Plan.
On Behalf of the Board of Directors,
Arrowstar Resources Ltd.
"Robert L. Card"
Robert L. Card
"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."
Forward-Looking Statements: This document includes forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning AWS's planned exploration programs and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may," "potential," "should," and similar expressions are forward-looking statements. Although AWS believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements are disclosed under the heading "Risk Factors" and elsewhere in the corporation's periodic filings with Canadian securities regulators.
SOURCE Arrowstar Resources Ltd.