Arctos Petroleum Corp.
TSX VENTURE : APO

August 23, 2006 08:00 ET

Arctos Announces Investor Relations Agreement

CALGARY, ALBERTA--(CCNMatthews - Aug. 23, 2006) - ARCTOS PETROLEUM CORP. ("Arctos" or the "Company") (TSX VENTURE:APO) is pleased to announce that it has entered into an independent contract agreement with SPIRE Financial Communications ("SPIRE") for the provision of investor relation services to the Company.

SPIRE is a Calgary-based full service investor relations firm that provides corporate and investor relations services to Canadian public companies. SPIRE will provide the services to Arctos primarily through Ron Matthews, a consultant and partner of SPIRE with over 20 years of experience in various aspects of the investment business, including 11 years of experience as a successful broker with several high-profile Calgary brokerage firms, acting as director of investor relations for a NASDAQ company and providing consulting services to and raising capital for a number of private and public companies.

Under the terms of the agreement, SPIRE has been engaged by Arctos to carry out the services under the agreement on a month to month basis with a 90-day cancellation clause. The services to be carried out include maintaining contact with shareholders, investors and other stakeholders, the introduction of the Company to brokerage firms, money managers and research departments of certain funds and institutions as well as increasing visibility to retail investors.

Pursuant to the agreement, SPIRE will receive a retainer fee of $5,000 per month, a grant of 200,000 stock options with an exercise price of $.10 per share and the reimbursement of pre-approved expenses. The options will vest over 12 months in accordance with the policies of the TSX Venture Exchange.

The agreement and the grant of options are subject to regulatory approval.

SPIRE is arm's length to Arctos and, other than the options, SPIRE has no interest in Arctos' securities nor any right or intent to acquire such an interest.

Arctos is a Junior Oil and Gas Company with ongoing exploration, development, and production programs in Alberta and Saskatchewan.

ARCTOS PETROLEUM CORP.

William (Bill) S. Ward, President & CEO

THE TSX VENTURE EXCHANGE HAS NEITHER APPROVED NOR DISAPPROVED OF THE INFORMATION CONTAINED HEREIN.

Contact Information

  • Arctos Petroleum Corp.
    William (Bill) S. Ward
    President & CEO
    (403) 531-1711
    (403) 531-1719 (FAX)
    or
    SPIRE Financial Communications
    Ron Matthews
    Investor Relations contact
    (403) 668-1330
    contact@spirefc.com