Canoel International Energy Ltd.
TSX VENTURE : CIL

Canoel International Energy Ltd.

August 11, 2011 21:19 ET

Canoel Engages Investor Relations Firm

CALGARY, ALBERTA--(Marketwire - Aug. 11, 2011) -

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. ("Canoel" or the "Company") (TSX VENTURE:CIL) is pleased to announce that it has retained Peak Resource Capital Partners Inc. of Vancouver, British Colombia, (" Peak") to provide investor relations services pursuant to a written investor relations agreement dated August 10, 2011 (the "Agreement"). Peak's objectives will be to increase the exposure and awareness of corporate initiatives by Canoel to the financial community by reaching targeted retail & institutional investors.

Canoel has retained Peak for an initial period of 3 months, subject to certain conditions. Under the terms of the Agreement, Canoel will pay a monthly fee of $5,500.00 to Peak, half at the beginning of each month, and half at the end of each month, paid from the Company's working capital. Canoel will also reimburse Peak for any expenses pre-approved by the Chief Executive Officer of Canoel. In addition, subject to future Canoel board and regulatory approval, and the expiration of a two month probationary period, it is intended that Peak will be granted a certain number of stock options, at the minimum exercise price as permitted by the regulatory authorities.

Except as set forth in the agreement, Canoel is not aware of Peak having any other interest, directly or indirectly, in Canoel or its securities, or any right or intent to acquire such an interest. Canoel and Peak are arm's length entities and, with the exception of the Agreement, are not parties to any other agreement or arrangement, whether written or oral, for the provision of promotional, investor relations or market-making activities.

About Peak Resource Capital Partners Inc.:

Headquartered in Vancouver, Peak is a private corporation, and is an International Capital Markets Advisory firm, whose principals have been successfully providing Investor Relations services for over 5 years to companies such as Canoel. Peak's strengths lie in its ability to help define and refine management's strategic opportunity and communicate their message. Creation of shareholder value is key and it has created an organization that is highly specialized and cost effective in achieving these goals. Peak takes pride in helping to represent its clients to leading investment bankers, analysts, brokers and portfolio managers. Peak utilizes an extensive and proprietary in-house custom database of detailed contacts in the investment community (buy & sell-side) to provide successful results.

About Canoel International Energy Ltd.:

Canoel is a TSXV ("CIL") listed company. The focus of Canoel is the creation of shareholder value through the acquisition and development of low-risk exploration and production opportunities, offering strong logistics and close proximity to refineries. Canoel's Management and Directors have extensive international and government experience with contracts and the relationships to execute their strategy. Canoel's technical team has proven experience, expertise and relationships within the exploration and development community.

Certain information in this press release is forward-looking and related to anticipated financial performance, events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target" and "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks, assumptions and uncertainties, which could cause the Company's actual results and experience to be materially different than the anticipated results. In particular, forward-looking information and statements include, but are not limited to: (i) expectations related to the grant of stock options to Peak; and (ii) the Company's business strategy and outlook.

These statements are based on certain assumptions and analysis made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments and other factors it believes are appropriate. The material factors and assumptions used to develop these forward-looking statements include, but are not limited to: (i) assumption the Company will obtain all regulatory approvals related to the grant of stock options to Peak; and (ii) assumption the Company will continue to pursue shareholder value through the acquisition and development of low-risk exploration and production opportunities, offering strong logistics and close proximity to refineries.

Whether actual results, performance or achievements will conform to the Company's expectations and predictions is subject to a number of known and unknown risks and uncertainties which could cause actual results to differ materially from the Company's expectations. Such risks and uncertainties include, but are not limited to, risks and uncertainties relating to: (i) political and economic conditions in the countries in which the Company operates or may operate; (ii) fluctuations in foreign exchange rates; and (iii) the Company's ability to access external sources of debt and equity capital.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, the Company disclaims any intention and assumes no obligation to update any forward-looking statement.

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) 829-1160

    Canoel International Energy Ltd.
    Andrea Cattaneo
    CEO & President
    (403) 829-1160
    (403) 775-4474 (FAX)
    info@canoelenergy.com

    Peak Resource Capital Partners Inc.
    Brian Gusko
    Vancouver: (604) 727-1295
    Shenzhen: +86 755 2394 1615
    (604) 608-6163 (FAX)
    bgusko@peakresourcecapital.com