VANCOUVER, BC--(Marketwired - October 18, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA
Broadway Gold Mining Ltd. ("Broadway" or the "Company") (TSX VENTURE: BRD) is pleased to announce that it has engaged Primoris Group Inc. ("Primoris") to provide media and investor relations (IR) services to the Company. Primoris is a full-service communications agency.
From its office in Toronto, Primoris will provide the Company with a full range of IR and media relations services under the leadership of its principals, including the coordination of editorial coverage through print, radio, TV and online media outlets.
Under the terms of Broadway's agreement with Primoris, which commenced October 17, 2016 for a one-year period, Primoris will execute a comprehensive communications program to support the Company's growth strategy, for which it will be paid a fee of $5,000 per month. Primoris has also been granted options to purchase 250,000 common shares of the Company at $0.115 exercisable for a period of five years from the date of issuance (the "Options"). The Options will vest over a 12-month period and are subject to regulatory approval.
The agreement between the Company and Primoris is renewable and can be terminated by either party on 30 days written notice. The agreement between the Company and Primoris and the grant of the Options are subject to regulatory approval. Primoris does not currently have any interest, directly or indirectly, in Broadway or its securities, or any right or intent to acquire such an interest.
Grant of Stock Options
The Company also announced that its Board of Directors has approved the grant of an aggregate of 1,600,000 stock options (the "Options") to eligible participants of the Company's stock option plan including Directors, employees, advisors and new directors of the Company. The Options are exercisable into common shares of the Company at an exercise price of $0.115, all vesting upon issuance. The Options have a five-year term to maturity.
About Broadway Gold Mining Ltd.
Broadway Gold Mining Ltd. is focused on the development of world-class assets with near-term production potential. The Madison Gold and Copper project, near Silver Star, Montana, provides an exciting opportunity as the area has never been fully exploited or explored. Broadway has identified a series of existing gold and copper zones that remain open for expansion.
Neither the TSX Venture Exchange Inc. 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.