Riverstone Resources Inc.

Riverstone Resources Inc.

October 22, 2007 16:08 ET

Riverstone Retains Ascenta Capital for Investor Relations

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 22, 2007) - Riverstone Resources Inc. (TSX VENTURE:RVS) is pleased to announce it has retained Ascenta Capital Partners Inc. of Vancouver, BC, to provide investor relations services.

Ascenta will receive a monthly retainer of $5,000 for a 12-month term, subject to termination by either party with 30 days written notice. Riverstone will also issue, as compensation to Ascenta, an option to purchase 150,000 common shares pursuant to the Company's stock option plan. The options are exercisable for a five-year period at a price of $0.375 per share and are subject to regulatory approval and vesting provisions. It is agreed that, in the event the Company chooses to continue this agreement after three months, the monthly retainer shall be increased to $6,000 and a further option to purchase 50,000 common shares at market price will be issued to Ascenta. All options will be subject to a four-month hold period. The agreement is subject to regulatory approval.

Riverstone Resources Inc. is a company active in gold exploration in Burkina Faso, West Africa. For further information about the Company, please refer to the Company's website at www.riverstoneresources.com and under the Company's profile at www.sedar.com.

About Ascenta Capital Partners Inc.

Ascenta is a leading provider of investor relations services to public companies in Canada. Ascenta's strength is its disciplined approach to the development and execution of strategic, customized investor relations programs and services.


Michael D. McInnis, P.Eng., CEO & President

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Contact Information

  • Riverstone Resources Inc.
    Michael D. McInnis
    (604) 801-5020
    (604) 801-6075 (FAX)
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    (403) 240-0555
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    (604) 986-0112
    Email: info@riverstoneresources.com
    Website: www.riverstoneresources.com