VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 18, 2012) - Crazy Horse Resources Inc. (TSX VENTURE:CZH) (the "Company") announces that it has engaged the services of Regent Advisors LLC to advise the Company as it seeks a potential buyer or joint venture partner for its Taysan Copper-Gold Project located on Luzon Island.
Under the terms of the engagement, which commenced effective April 1, 2012, the Company will pay Regent a cash success fee equal to 1.5% of the transaction value. Additionally, the Company has agreed to pay an engagement fee of US$50,000 per month payable monthly in arrears in cash or common shares of the Company for up to six months. In the event the Company elects to pay the retainer in common shares, the common share price used will be the 20-day VWAP calculated on the last trading day of the calendar month in which services are provided.
ON BEHALF OF THE BOARD OF CRAZY HORSE RESOURCES INC.
MITCH ALLAND, President and C.E.O.
This news release includes "forward-looking statements" including forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. There is no assurance the Company or Regent will be successful in identifying a purchaser for the Taysan project on terms acceptable to the Company or at all. The Company does not assume the obligation to update any forward-looking statement, 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) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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