Asia Now Resources Corp.
TSX VENTURE : NOW

Asia Now Resources Corp.

February 18, 2011 10:16 ET

Asia Now Retains New Investor Relations Services Consultant and Announces Grant of Stock Options and Amendment to Its Stock Option Plan

TORONTO, ONTARIO--(Marketwire - Feb. 18, 2011) - Asia Now Resources Corp. ("Asia Now" or the "Corporation") (TSX VENTURE:NOW) is pleased to announce that it has entered into an investor relations agreement with Andreas Curkovic to provide investor relations and shareholder communications services. Mr. Curkovic will assist Asia Now in working with members of the professional investment community and current shareholders to keep them informed and up-to-date on Asia Now's activities. The Agreement, which is renewable automatically on a monthly basis unless terminated by either party with 30 days prior notice will pay Mr. Curkovic a fee of $5,000 per month in consideration for his services. Asia Now will also grant Mr. Curkovic options to purchase 300,000 shares of the Corporation at $0.30 for a period of five years.

Asia Now announces that its board of directors has approved an amendment to its existing stock option plan to increase the number of common shares available for issuance under its stock option plan, (including options already issued and outstanding) to 11,100,000, which represents approximately 10% of the Asia Now's issued and outstanding shares. The amended incentive stock option plan will be put forth to shareholders for consideration and approval at its next meeting of shareholders.

Asia Now also announces that it has, pursuant to its amended stock option plan, granted options to purchase an additional 3,175,000 common shares of the Corporation at $0.30 for a period of five years to the following directors, officers, employees and consultants of the Corporation:

Name Position Options Granted
     
 
Kaihui Yang President/ Director 400,000
Gordon McCreary Director 250,000
D. Richard Brown Director 275,000
Muliawan Sutanto Director 250,000
Ng Tai Chiu Director 250,000
Chan Wing Kwong Director 300,000
John Lee Luen Wai Director 200,000
Alex Tjokrorahardjo Director 250,000
Gaetan Chabot Chief Financial Officer 50,000
Other Consultants and Consultants & Employees 950,000
Employees    

All options granted are subject to shareholder and regulatory approval and may not be exercised until such approvals are obtained. The options granted will vest according to the provisions of the stock option plan, namely ¼ vesting immediately and ¼ of the options vesting every six months thereafter.

About Asia Now:

Asia Now Resources Corp. is a mineral exploration company, exploring potential world-class ore deposits in China with the aim of developing them. The Corporation has established offices, joint ventures and a significant network with the Chinese mining industry and governments. Under the leadership of an experienced international board and management team, the Corporation has been operating smoothly in China since 2002. The Corporation is currently drilling at its key Beiya project which is located in the Yunnan Province of China. The project has large mineralization belts with potential for significant discoveries. For more information, please visit www.asianow.ca.

This Press Release contains certain forward-looking statements. We have tried, whenever possible, to identify these forward-looking statements using words such as "anticipates", "believes", "estimates", "expects", "plans", "intends", "potential" and similar expressions. These statements reflect our current belief and are based upon currently available information. Accordingly, such forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause the Corporation's actual results, performance or achievements to differ materially from those expressed in or implied by such statements. We undertake no obligation to update or advise in the event of any change, addition or alteration to the information contained in this Press Release including such forward-looking statements, unless otherwise required under applicable law.

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.

Contact Information

  • Asia Now Resources Corp.
    Kaihui Yang
    President
    (416) 364-7281
    or
    Asia Now Resources Corp.
    Investor Relations
    Andreas Curkovic
    (416) 364-7281
    info@asianow.ca
    www.asianow.ca