Driven Capital Corp.

Driven Capital Corp.

August 02, 2011 11:30 ET

Driven Retains Investor Relations Firm, Closes $525,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 2, 2011) - Driven Capital Corp. (TSX VENTURE:DVV) ("Driven" or the "Company") is pleased to announce that it has entered into a Consulting Agreement effective August 1, 2011 with Florida-based National Media Associates ("NMA") to conduct investor relations and media awareness services for the Company. Headed by Mr. George Duggan, NMA is an established investor and media-relations specialist in the resource and gold exploration sectors.

Driven will pay NMA a monthly fee of USD$8,000 including taxes for the one-year term of the agreement, which is cancelable at the Company's option upon thirty days' written notice after the first six months. Pursuant to the agreement, Driven will also grant 100,000 incentive stock options to principals of NMA for a period of one year from the date of granting, with one quarter of such options vesting immediately, then one-quarter every ensuing three-month period. The options will be exercisable at the market price on the date of granting. Further options may be granted to NMA and/or its principals at the Company's discretion, in accordance with its Stock Option Plan. The agreement is subject to the approval of the TSX Venture Exchange.

Driven also reports that today, it closed the non-brokered private placement referenced in the Company's news release dated July 15, 2011, having sold 3,500,000 Units for gross proceeds of $525,000. The securities issued by the Company pursuant to the offering are subject to a four-month hold period from the closing date, as prescribed by the TSX Venture Exchange and applicable securities laws. Finder's fees of $19,757.51 representing a seven percent cash commission were paid, and 131,717 finder's warrants representing seven percent of the number of securities sold by finders were issued in connection with the private placement. Each non-transferrable finder's warrant entitles its holder to acquire one common share of the Company at a price of $0.15 per share for two years following the closing date of the private placement.

Driven is a publicly traded exploration company focused on the discovery of high-value precious metals deposits in North America. Please visit our web site at

On Behalf of the Board of Directors of Driven Capital Corp.

Toma Sojonky, President & CEO

Cautionary Statement Regarding Forward-Looking Information: All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management's estimates or opinions should change. Investors should not place undue reliance on forward-looking statements.

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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