VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2016) - IDM Mining Ltd. (TSX VENTURE:IDM) is pleased to announce that it has engaged O&M Partners, LLC ("O&M") to assist in targeting non-deal institutional and independent money managers throughout the United States including financial centres often overlooked. In addition, the Company is pleased to announce that it has retained the part-time investor relations consulting services of Nigel "Alex" Horsley.
The marketing effort by O&M will include a combination of group Town Hall conference calls and follow-up roadshows. This campaign is an integral part of the Company's overall marketing effort focused on the United States. The Company's agreement with O&M will run for a period of six months, and may be further extended by agreement of the parties. In consideration for providing the services thereunder, the Company will pay O&M a total of US$60,000 over the term of the contract. In addition, 250,000 stock options have been granted to O&M with an exercise price of $0.19 with a five year term vesting quarterly over a twelve month period, subject to the approval of the TSX Venture Exchange. Any cost and expenses incurred by O&M on behalf of IDM will be reimbursed.
New York based O&M Partners, LLC is a non-deal institutional marketing agency, specializing in bringing Canadian companies to US investors. O&M maintains strong relationships with over 5,000 accredited investors across the United States who are mandated to buy stock in the open market.
Mr Horsley has been working in the capital markets, mining sector, venture capital and private equity sectors over the past ten years. His focus on corporate communications has made him a market awareness specialist. Furthermore he has handled the marketing and assisted with financing both publicly listed and private companies.
The consulting agreement with Mr. Horsley has an initial term of three months and provides for a monthly payment to Mr. Horsley of $4,350. In addition, 350,000 stock options have been granted to Mr. Horsley with an exercise price of $0.19 with a five year term vesting quarterly over a twelve month period. The Consulting Agreement and granting of options is subject to the approval of the TSX Venture Exchange.
In addition, the Company announces the granting of incentive stock options to certain consultants to purchase up to 150,000 common shares under the Company's Incentive Stock Option Plan. The options will be granted for a period of five (5) years, commencing on August 26, 2016, exercisable at a price of $0.19 per share.
ABOUT IDM MINING LTD.
IDM Mining Ltd. Is a mineral exploration and development company (TSX VENTURE:IDM) based in Vancouver, BC, Canada. The Company's current exploration and development activities are focused on precious metals in northwestern British Columbia and the Yukon Territory, with a primary focus on the high grade Red Mountain gold project. Further information can be found on the Company's website at www.IDMmining.com.
ON BEHALF OF THE BOARD of IDM Mining Ltd.
Robert McLeod, President, CEO and Director
"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."