Cartier Resources Inc.
TSX VENTURE : ECR

Cartier Resources Inc.

August 18, 2016 09:29 ET

Cartier Closes a $150,000 Private Placement and Engages Paradox to Provide Investor Relations Services

VAL-D'OR, QUEBEC--(Marketwired - Aug. 18, 2016) - Cartier Resources Inc. (TSX VENTURE:ECR) ("Cartier") announces the closing of a private placement for gross proceeds of $150,000. In total, Cartier issued 1,250,000 units (the "Units") at a price of $0.12 per Unit, with each Unit consisting of one (1) common share at a price of $0.12 per share and one (1) common share purchase warrant, each warrant entitling the holder to subscribe for one (1) common share at a price of $0.15 for a period of twelve (12) months following the closing date. The securities issued under the private placement are subject to a four (4) month statutory hold period.

Additionally, Cartier announces the signature of an Investor Relations Services Agreement with Relations Publiques Paradox Inc. ("Paradox"). Pursuant to the agreement reached between the parties, Paradox will focus on developing and expanding Cartier's communications with the investment community through a comprehensive investor relations program. Paradox has been providing investor relations services in multiple industries for nearly fifteen years. Services to be provided to Cartier will include: marketing to the investment community, use of Paradox's proprietary database and contacts, organizing meetings and presentations on behalf of Cartier, and providing an e-mail service and incoming call service.

The agreement has a term of 24 months from the date of its signature and may be terminated at any time without charge by either party by giving 30 days' notice in writing. Paradox will be paid a monthly fee of $7,500 and will be granted an option to acquire 500,000 common shares of Cartier at a price of $0.17 per share for a period of five years, in accordance with the current stock option plan and Policy 3.4 of the TSX-V. The Investor Relations Agreement as well as the professional engagement fees and granting of stock options is subject to TSX Venture Exchange approval.

The directors of Paradox are, Jean‐François Meilleur, acting president, Carl Desjardins and Karl Mansour. The company 9244‐2946 Québec inc., under direct control by Gestion Jean‐François Meilleur inc., Gestion Carl Desjardins inc. and Gestion Karl Mansour inc., are majority shareholders of Paradox. Jean‐François Meilleur, Carl Desjardins and Karl Mansour will be the persons providing the services to Cartier. Paradox offices are situated at 1178, Place Phillips, suite 250, Montréal, Québec. The directors of Paradox have subscribed in this private placement for a total of $101,400, or 845,000 Units.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

The common shares of Cartier Resources Inc. are listed on the TSX Venture Exchange under the symbol "ECR".

Neither the TSX Venture Exchange nor its regulatory services provider accepts responsibility for the adequacy or accuracy of this press release.

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