Canoel International Energy Ltd.
TSX VENTURE : CIL

Canoel International Energy Ltd.

March 18, 2013 08:30 ET

Canoel Announces Entering Into an Investor Relations Advisory Agreement

CALGARY, ALBERTA--(Marketwire - March 18, 2013) -

THIS PRESS RELEASE IS NOT TO BE DISTRIBUTED TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW.

Canoel International Energy Ltd. (the "Company" or "Canoel") has entered into an investor relations advisory agreement with Risecomm Communication Inc. ("Risecomm"). Risecomm is engaged in providing investor relations services to public companies including the development of corporate communications strategies and developing and maintaining active communications networks with private investors across Canada. Under the terms of the investor relations agreement, Risecomm will provide investor relations services to Canoel which will include creating a shareholder communications strategy for the Company, communicating with brokers and potential institutional investors and promoting the corporate image of Canoel.

The investor relations agreement provides for an initial term ending on May 31, 2013 and thereafter will continue at the option of the Company and may be terminated on 30 days' notice. The consideration payable to Risecomm for its services will form part of the Company's general administration budget and includes a monthly retainer of $5,000 plus approved expenses. In addition, Risecomm will be granted an option to purchase 300,000 common shares of Canoel at an option price of $0.10, which will vest in equal instalments over a 12-month period and expire 60 months from the date of grant.

Risecomm is a Quebec company based out of Montreal, QC and owned by Guillaume Lariviere. Except in respect of the investor relations agreement and the stock options referred to above, Risecomm has no direct or indirect interest in the Company or its securities.

Forward-Looking Information

Certain information in this press release is forward-looking within the meaning of Canadian securities laws as it relates to anticipated events and strategies. When used in this context, words such as will, anticipate, believe, plan, mandated, intend, target, and expect or similar words suggest future outcomes.

Readers are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date made. Forward-looking statements are provided for the purpose of providing information about the investor relations agreement and the provision of services in connection therewith. Readers are cautioned that such information may not be appropriate for other purposes. Canoel does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Canoel's expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.

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 this release.

Contact Information

  • Canoel International Energy Ltd.
    Jose Ramon Lopez Portillo
    Chairman of the Board
    (403) 938-8154
    (403) 775-4474 (FAX)
    info@canoelenergy.com

    Canoel International Energy Ltd.
    Andrea Cattaneo
    CEO & President