MONTREAL, QUEBEC--(Marketwired - April 9, 2014) - Beaufield Resources Inc. ("Beaufield" or the "Corporation") (TSX VENTURE:BFD) is pleased to announce that it has entered into an investor relations agreement (the "Agreement") with MI3 Communications Financières Inc. ("MI3").
MI3 will assist Beaufield in working with members of the financial community, potential investors and current shareholders to keep them informed and up-to-date on Beaufield's activities.
The Agreement is for a term of one year, which may be earlier terminated at any time upon 30 days written notice by either party, notice not to be given before six months from the date of the Agreement. The Agreement may be renewed for an additional term of six to twelve months. In consideration for the services of MI3, Beaufield has agreed to pay a fee of $7,500 per month. Beaufield shall also grant MI3 300,000 stock options of Beaufield at a price of $0.10 per share for a period of 5 years with 1/4 of the options vesting in every three month period.
CEO and President, Mr. Hansen comments: "We are very pleased that MI3 and Mr. Drolet will be assisting Beaufield in its campaign to increase awareness. Beaufield has approximately $4 million in working capital, a National Instrument 43-101 resource calculation under preparation for the Tortigny copper-zinc-silver deposit, a key holding in the developing Urban gold camp next to Eagle Hill Exploration, a key property adjoining Goldcorp's new, large Eleonore mine, and an advancing gold property under option at Launay. We believe Beaufield is significantly undervalued and Mr. Drolet's assistance with corporate development is very welcome".
MI3 is an investor relations firm headed by Mr. Mario Drolet. MI3 is a proactive results-driven firm that offers premium investor relations services to an international portfolio of client companies operating in a broad range of industries including mining, oil & gas and special situations. MI3 provides comprehensive Investor relations representation to a Canadian audience through their offices in Montreal.
MI3 is not related to Beaufield, does not have any direct or indirect material interest in Beaufield or its securities, other than the stock options as described above. All matters reported herein are subject to TSX Venture Exchange approval.
Beaufield is a mineral exploration company with its exploration activity focused in Quebec. Beaufield is well positioned to advance its portfolio of exploration properties and identify other potential opportunities in the mineral exploration or development stage. The Corporation is actively exploring, well financed, has no debt and has excess work credits on its properties.
The information set forth in this press release includes certain forward-looking statements. Such statements are based on assumptions exposed to major risks and uncertainties. Although Beaufield deems the expectations reflected in these forward-looking statements to be reasonable, the Corporation cannot provide any guarantee as to the materialization of the expectations reflected in these forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by 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) has reviewed or accepts responsibility for the adequacy or accuracy of this Release.