Vancouver, B.C. – Tower Resources Ltd. (the “Company”) (TSX.V – TWR) is pleased to announce that it has retained San Diego Torrey Hills Capital, Inc. (“Torrey Hills Capital”) to provide market awareness and investor relations services. The initial term of the consulting agreement is seven months.
About Torrey Hills Capital
Torrey Hills Capital was formed in 1998 and is headquartered in Rancho Santa Fe, California. The team of professionals offers experience and expertise in investor relations, corporate communications, non-deal road shows, and market support activities. Torrey Hills Capital specializes in the development and marketing of emerging growth companies which trade in the United States (NYSE, AMEX, and OTC) and in Canada (TSX, TSXV, and CSE). Marketing activities articulate key investment attributes, strategic direction, and financial expectations, which combine to ensure that client market value fully reflects past achievements and future opportunities. Further information is available at www.torreyhillscapital.com.
In consideration for the services to be provided, Torrey Hills Capital will receive from the Company a monthly fee of US$5,000 inclusive of applicable tax and is being granted stock options (the “Options”) to acquire 200,000 common shares of the Company at an exercise price of C$0.16 per common share. The Options vest over a period of nine months from the date of issuance and can be exercised for a period of three years from the date of grant. All unexercised Options that have been vested would expire 30 days following any termination of the consulting agreement.
Prior to the grant of Options pursuant to the consulting agreement, Torrey Hills Capital held no securities of the Company. The consulting agreement and the grant of Options are subject to the approval of the Exchange.
About Tower Resources
Tower Resources Ltd. (TWR.V) is a Vancouver-based junior mineral exploration company focused on the discovery and advancement of economic mineral projects, primarily in British Columbia. The company’s key exploration assets are Rabbit North, Nechako Gold and More Creek
For further information contact:
Mark Vanry – Director, CEO & President
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Caution
This news release contains certain “forward-looking statements”, as defined in the United States Private Securities Litigation Reform Act of 1995, and within the meaning of Canadian securities legislation. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change, except as required by law. There are numerous risks and uncertainties that could cause actual results and Tower's plans and objectives to differ materially from those expressed in the forward-looking information. The reader is urged to refer to the Company's public disclosure which is available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.