Magna Resources Ltd. Engages Palisade Capital Corp. for Marketing Services
27 March 2014 - 11:00PM
Marketwired
Magna Resources Ltd. Engages Palisade Capital Corp. for Marketing
Services
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 27, 2014) -
Magna Resources Ltd. (CSE:MNA)(OTCQX:MGRZF) (the "Company" or
"Magna") has retained Palisade Capital Corp. ("Palisade") as an
independent consultant to provide marketing services, setting up
marketing teleconferences and road shows for the European, Canadian
and U.S. investment community, and assisting in the distribution of
news releases. Collin Kettell and Sean Zubick, the principals of
Palisade, will be primarily responsible for providing the marketing
services to the Company.
Palisade is a consulting services company headquartered in
London, UK. Palisade offers strategic consulting services to public
and private companies looking to expand their corporate footprints
and attract new international investors. From marketing road shows
to full-service investor relations and promotional video campaigns,
Palisade utilizes innovative strategies and techniques to drive
broader investor awareness, increased liquidity and higher
valuations for its clients.
In consideration for Palisade's services, the Company has agreed
to pay Palisade a total fee of $50,000 for a term of 10 months
(translating to $5,000 per month) commencing March 26, 2014, and
ending on January 26, 2015. In addition, the Company has agreed to
grant Palisade stock options to purchase a total of 300,000 common
shares at a price of $0.15 per share for a period of two years,
vesting subject to the Company's stock option plan and in
accordance with the policies of the Canadian Securities Exchange
("CSE").
Private Placement
The Company is announcing a non-brokered private placement (the
"Private Placement") for up to 666,666 Units ("Units") at a price
of $0.15 per Unit to raise total proceeds of $100,000. Each Unit
will be comprised of one common share of the Issuer (a "Share") and
one-half of one common share purchase warrant of the Issuer (each
whole warrant, a "Warrant"). Each Warrant will be exercisable into
a common share of the Company (a "Warrant Share") for a period of
24 months from the date of issuance at an exercise price of $0.25
per Warrant Share.
Shares issued pursuant to this Private Placement are subject to
a four-month hold period from the closing date in accordance with
applicable securities laws and, if required the policies of the
Exchange.
Finder's fees or commissions may be payable by the Company in
connection with this Private Placement.
The proceeds of this Private Placement are for the Company's
general working capital as well as preparatory work for the Phase 1
drill program at the Company's Green River Potash Project in the
renowned Paradox Basin, Utah.
About the Company
Magna Resources Ltd. is dedicated to the acquisition and
development of potash mineral deposits in the USA and elsewhere.
The Company, through a wholly owned subsidiary, American Potash
LLC, a Nevada limited liability corporation, holds 11 State potash
leases, 2 Federal Potash Prospecting Permits and an option to
acquire 100% interest in 12 Federal potash Prospecting Permits and
11 federal Potash Prospecting Permit applications in the State of
Utah comprising 20,620 hectares (50,950 acres) that constitute the
Green River Potash Project, host to a significant potash
Exploration Target.
On behalf of the Board of
Directors |
|
"Mike Sieb" |
"Rudy De Jonge" |
Mike Sieb, President |
Rudy De Jonge, CEO |
Neither the OTCQX nor the Canadian Stock Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the Canadian National Stock Exchange) accepts
responsibility for the adequacy or accuracy of this
release.
Statements in this press release other than purely
historical information should not be relied upon, including
statements relating to the Company's future plans and objectives or
expected results, are "Forward-Looking Statements" within the
meaning of Section 21E of the United States Securities Exchange Act
of 1934, as amended and Canadian securities laws. Forward Looking
Statements are based on numerous assumptions and are subject to all
of the risks and uncertainties inherent in the Company's business,
including risks inherent in resource exploration and development.
As a result, actual results may vary materially from those
described in the Forward Looking Statements.
Magna Resources Ltd.Brook
Bellian604-558-4955604-484-7143bbellian@magnaresourcesltd.comwww.magnaresourcesltd.com
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