Cream Minerals Ltd.
OTC Bulletin Board : CRMXF
TSX VENTURE : CMA
FRANKFURT : DFL

Cream Minerals Ltd.

March 04, 2011 21:13 ET

Cream Minerals Limited Grants Stock Options and Hires Investor Relations Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2011) - Cream Minerals Ltd. (TSX VENTURE:CMA)(OTCBB:CRMXF)(FRANKFURT:DFL) ("Cream" or the "Company") is pleased to announce that a total of 6,975,000 incentive stock options have been granted under the Company's stock option plan to employees, consultants, officers and directors of the Company at a price of Cdn$0.38 per share. The options are exercisable on or before March 4, 2016 and will vest immediately, other than those granted to consultants performing investor relations activities, which, in accordance with TSX Venture Exchange requirements, will vest over a twelve month period, with one-quarter of such options vesting in each three month period. The options are subject to the approval of the TSX Venture Exchange.

The Company is also pleased to announce that it has retained the services of Cindy Chu to provide investor relations services, including but not limited to development of marketing materials, maintenance of investor data bases, coordination of investor events, attending trade shows, and contacting potential investors. Ms. Chu has no direct or indirect interest in the Company but may acquire such interest in the future. Cindy brings over 15 years experience in the mining and telecommunications industry with an extensive background in communications, sales and finance. She graduated from the University of British Columbia with a Bachelor of Commerce specializing in Marketing. In her most recent roles, Cindy coordinated private investment events, liaised with prospective investors at trade shows and conferences.  

Ms. Chu will provide the services through Quorum Management Services Inc. for which she will act as a consultant to provide investor relations services to the Company as well as other issuers. This arrangement is subject to the approval of the TSX Venture Exchange. The cost to Quorum for these services for a twelve month period will be $72,000 plus approved expenditures, which is payable on a monthly basis. Ms Chu's time will be apportioned between Cream and other companies in the office on an hourly billing basis. It is expected that the costs to Cream will not exceed $36,000.00 for a twelve month period.

Ms. Chu has been granted a total of 200,000 stock options in relation to her engagement. As outlined above, these options are exercisable at a price of Cdn$0.38 per share on or before March 4, 2016 and, in accordance with TSX Venture Exchange requirements, will vest over a twelve month period, with one-quarter of such options vesting in each three month period. 

Cream Minerals is a silver-gold exploration company with properties in Mexico and Canada. To learn more about Cream Minerals please click here www.creamminerals.com.

U.S. 20-F Registration: 000-29870

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.

Contact Information

  • Cream Minerals Ltd.
    Frank A. Lang, BA, MA, P.Eng.
    Chairman
    (604) 687-4622 or Toll Free: 1-888-267-1400
    or
    Cream Minerals Ltd.
    Michael E. O'Connor
    President & CEO
    (604) 687-4622 or Toll Free: 1-888-267-1400
    or
    Cream Minerals Ltd.
    Robert Paul
    Investor Relations
    (604) 687-4622 or Toll Free: 1-888-267-1400
    (604) 687-4212 (FAX)
    info@creamminerals.com
    www.creamminerals.com