CALGARY, ALBERTA--(Marketwire - Sept. 2, 2011) - BACANORA MINERALS LTD. (TSX VENTURE:BCN) (the "Corporation" or "Bacanora") is pleased to announce that it has, subject to regulatory acceptance, engaged Capital Ideas Research ("Capital Ideas") to create and implement an investor relations program for the Corporation. Capital Ideas will assist Bacanora by introducing it to potential investors drawn from an extensive contact base, designing corporate communications materials, and enhancing the Corporation's image generally.
In connection with the engagement, Bacanora has entered into a consulting contract with Capital Ideas, commencing September 1, 2011, pursuant to which Capital Ideas shall be paid $5,000 per month for a term of 12 months, subject to early termination (Bacanora can terminate this contract with thirty days written notice at any time). In addition, the Corporation has granted 100,000 stock options to Capital Ideas, which are exercisable into common shares at a price of $0.50 per share for a period of one year. The options shall vest quarterly over a period of one year and shall be subject to regulatory approval and the provisions of Bacanora's Stock Option Plan.
Forward Looking Statements
Except for statements of historical fact relating to the Corporation, certain information contained herein constitutes forward-looking information. Forward-looking information is based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking information. Some of the risks and other factors that could cause the results to differ materially from those expressed in the forward-looking information include, but are not limited to: general economic conditions in Canada, the United States, Mexico and globally; industry conditions, governmental regulation, including environmental regulation; unanticipated operating events or performance; failure to obtain industry partner and other third party consents and approvals, if and when required; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; competition for, among other things, capital, skilled personnel and supplies; changes in tax laws; and the other risk factors disclosed under our profile on SEDAR at www.sedar.com. Readers are cautioned that this list of risk factors should not be construed as exhaustive.
The forward-looking information contained in this news release is expressly qualified by this cautionary statement. We undertake no duty to update any of the forward-looking information to conform such information to actual results or to changes in our expectations except as otherwise required by applicable securities legislation. Readers are cautioned not to place undue reliance on forward-looking information.
Neither 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 the release.
Contact Information:
Paul Conroy
President and Chief Executive Officer
(403) 237-6122
(403) 237-6144 (FAX)