Afri-Can Marine Minerals Corporation

Afri-Can Marine Minerals Corporation

April 20, 2011 10:38 ET

Afri-Can Marine Minerals Engages Investor Relations Firm and Extends Shares Purchase Warrants

MONTREAL, QUEBEC--(Marketwire - April 20, 2011) - Afri-Can Marine Minerals (TSX VENTURE:AFA) ("Afri-Can") today announced that it has engaged Paradox Public Relation inc. of Montreal to provide investor relations services for the Company.

Paradox provides strategic counsel to small and medium cap companies, primarily in the resource sector. Paradox has worked with Afri-Can since 2006. Effective April 1st, 2011, Paradox will provide services for a remuneration of $ 6,500 per month for a minimum 12 month period. A consideration of 1 million Afri-Can options will also be granted to Paradox. The options have a maturity date of April 1st, 2013 at an exercise price of $0.10 per shares and are vested quarterly for the period of 12 months.

The primary focus of the planned investor relations campaign is to introduce Afri-Can to a wider audience within the North American investment community including investment advisors, sell side analysts and institutional investors.

On another matter, Afri-Can Marine Minerals Corporation announces that its Board of Directors, by a resolution adopted on May 15, 2011, has authorized the extension until May 20, 2012 of the 2,187,500 share purchase warrants set to expire on May 6, 2011, and of the 680,000 share purchase warrants set to expire on May 20, 2011. These warrants have an exercise price of $0.15. As of today, 235,000 purchase warrants expiring on May 6, 2011 have been exercised.

The extensions are subject to the approval of regulatory authorities.

About Afri-Can Marine Minerals Corporation

Afri-Can is a Canadian company, actively involved in the acquisition, exploration and development of major mineral properties in Namibia. Afri-Can's creative and scientific approach targets large marine diamond deposits in prospective territories.

This press release contains certain "forward-looking statements," as identified in the Afri-Can's periodic filings with Canadian Securities Regulators that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Neither the 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.

Shares outstanding: 222,714,984

Contact Information

  • Afri-Can Marine Minerals
    Pierre Leveille
    President & CEO
    514-846-2133 / TOLL FREE North America: 1-866-206-7475

    Afri-Can Marine Minerals
    Bernard J. Tourillon
    Executive V.P. and CFO
    514-846-2133 / TOLL FREE North America: 1-866-206-7475