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Brownstone Ventures Inc.: Brownstone Enters Into Investor Relations Agreement
TORONTO, ONTARIO--(Marketwire - June 4, 2009) - Brownstone Ventures Inc. (TSX VENTURE:BWN) ("Brownstone") has entered into an investor relations agreement (the "IR Agreement") with Michael Baybak and Company, Inc. ("MBC"), effective today.
Headed by Mr. Michael Baybak, MBC is a Florida-based long-term institutional and media investor relations specialist in the natural resource sector, with a focus on introducing Canadian resource companies of merit to broader institutional and retail investor audiences.
Mr. Sheldon Inwentash, Chairman & CEO of Brownstone, commented, "Brownstone has achieved several milestones in the past few months, and is commencing its drilling program in India this month. We are well positioned and have retained MBC to assist Brownstone in enhancing its investor communications and the dissemination of Brownstone's progress on its many oil and gas projects."
The initial term of the IR Agreement is 12 months, subject to early termination upon 30 days' notice in writing at any time after the first four months of service; and/or renewal following the completion of the initial term. Brownstone will pay MBC a fee of $7,500 per month plus expenses. Brownstone has also granted to MBC 250,000 stock options, exercisable at $0.60 per share for a term of up to three years. The options shall vest quarterly over a period of 12 months.
About Brownstone - Brownstone Ventures Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 295km2 in the Assam/Arakan Basin, Northeast India; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil and a 50% interest in approximately 160,000 hectares in the Quebec Lowlands. For additional information, please see Brownstone's website: [ www.brownstoneventures.com ].
The TSX Venture Exchange does not take responsibility for the adequacy or accuracy of this release.
