Freewest Resources Canada Inc.

Freewest Resources Canada Inc.

September 08, 2008 18:33 ET

Freewest Resources Canada Inc. Enters Into Agreement With Bay Street Connect for Investor-Relation Services and Grants Stock Options

MONTREAL, QUEBEC--(Marketwire - Sept. 8, 2008) - Freewest Resources Canada Inc. (TSX VENTURE:FWR) is pleased to announce that it has engaged Bay Street Connect to provide investor relations and financial communications services. Bay Street Connect will be paid a monthly retainer fee of $5,000 and has been granted a stock option in respect of 240,000 Freewest common shares. The exercise price of the options is $0.30 per share. The closing price of Freewest's common shares on the TSX Venture Exchange on September 5, 2008, the last trading day prior to today, was $0.27. The options expire in one year and will vest equally over four quarters. The options were granted under Freewest's 2003 Stock Option Plan. Bay Street Connect will assist Freewest in developing effective communications and relationships with retail and institutional brokers and analysts, as well as private investors and other financial professionals.

Bay Street Connect has advised Freewest that it is an employee-owned firm based in Toronto, and a leading provider of investor relations services to Canadian public companies in the mining sector. Focusing on direct communication and face to face meetings, it has assisted numerous organizations in improving relationships within the investment community.

Freewest also announces that its Board of Directors has today granted stock options to eight directors and officers, in respect of an aggregate of 1,300,000 common shares. Freewest also granted options to eight employees and consultants in respect of 500,000 common shares. The options were granted under Freewest's 1997 Stock Option Plan and 2003 Stock Option Plan. The exercise price of the options is $0.30 per share. The options expire in five years.

Freewest is a well-financed mineral exploration corporation exploring for gold and base-metals within eastern Canada. Corporate information can be accessed on the Internet at Freewest's shares are listed on the TSX Venture Exchange under the symbol FWR.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contact Information

  • Freewest Resources Canada Inc.
    Mackenzie I. Watson
    President and CEO
    (514) 878-3551 or 1-888-878-3551
    (514) 878-4427 (FAX)