Tuscany Energy Ltd.
TSX VENTURE : TUS

Tuscany Energy Ltd.

March 31, 2014 08:30 ET

Tuscany Announces the Retention of Calgary-Based Stirling Merchant Capital Inc. and Brisco Capital Partners Corp. and the Grant of Options

CALGARY, ALBERTA--(Marketwired - March 31, 2014) - Tuscany Energy Ltd. ("Tuscany") (TSX VENTURE:TUS) is pleased to announce, subject to TSX Venture Exchange acceptance, that it has retained Calgary-based Stirling Merchant Capital Inc. ("Stirling") and Brisco Capital Partners Corp. ("Brisco") to provide investor relations and marketing services, including organizing and coordinating road-shows, introducing management to market participants, and assisting with the preparation and presentation of investor and marketing materials.

Stirling's business is primarily focuses on organizing road-shows for Canadian listed public companies. Stirling is operated by Sam Grier and Natalya Tatarinova. Combined they have over 15 years' experience as investor relations professionals.

Brisco is a capital markets consultancy firm founded by Scott Koyich and has been providing investor relations services to public companies for over 16 years.

Stirling and Brisco will assist Tuscany in fostering productive, continuing dialogues with analysts, brokers, investors and other investment professionals within the financial community.

The investor relations agreement between Tuscany and Stirling and Brisco is effective immediately and shall have a term of 12 months unless extended by mutual agreement or terminated earlier by a party with 30 days written notice. Pursuant to the agreement, Tuscany will pay a monthly fee of $6,000 and grant each of Stirling and Brisco 50,000 options exercisable at a price of $0.445 per share. Other than the options, neither Stirling or Brisco or any of their directors, officers or employees have any interest, directly or indirectly, in Tuscany or it securities, or any right or intent to acquire such an interest.

The investor relations agreement and the grant of the options are both subject to the approval of the TSX Venture Exchange.

Tuscany also announces that its board of directors has granted to certain of its officers and directors options to acquire an aggregate of 350,000 common shares of Tuscany at a price of $0.445 per share pursuant to Tuscany's share option plan. The options vest as to one-third on each of the first, second and third anniversaries of the date of grant, and have a term of 5 years.

Under the rules and policies of the TSX Venture Exchange, the grant of 300,000 of the options is subject to the approval of both the TSX Venture Exchange and disinterested shareholders, because such options were granted within two months of the cancellation of other options held by the applicable directors and officers. Accordingly, shareholders will be asked to approve such grant at the annual and special meeting of shareholders of Tuscany to be held on April 30, 2014. Further details of the cancelled options and the grant of the new options will be included in the information circular of Tuscany to be delivered to shareholders in connection with the meeting, which information circular will also be available on SEDAR at www.sedar.com.

Tuscany Energy Ltd. is a Canadian oil-focused junior, with growth planned from repeatable, horizontal oil development drilling. The Company's principal focus is the exploitation of oil resources in Alberta and Saskatchewan and the majority of its revenue is generated from oil sales in Saskatchewan.

Please refer to Tuscany's website at www.tuscanyenergy.com for more information on the Company's Evesham and Macklin fields and other prospects in Alberta and Saskatchewan.

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

  • Tuscany Energy Ltd.
    Robert W. Lamond
    President & CEO
    (403) 269-9889
    (403) 269-9890 (FAX)

    Tuscany Energy Ltd.
    Donald K. Clark
    Vice President Operations
    (403) 269-9889
    (403) 269-9890 (FAX)
    www.tuscanyenergy.com