Verena Minerals Corporation
TSX VENTURE : VML

Verena Minerals Corporation

May 11, 2009 10:59 ET

Verena Retains Incorporated Communications Services

TORONTO, ONTARIO--(Marketwire - May 11, 2009) - Verena Minerals Corporation (TSX VENTURE:VML) ("Verena" or the "Company") is pleased to announce that it has retained the Los Angeles-based firm of Incorporated Communications Services ("ICS") to conduct media awareness and investor relations programs on behalf of the Company. Headed by Mr. Garry Pollack, ICS is a media-relations specialist in the natural resource and gold exploration sectors.

The consulting agreement between Verena and ICS is effective from May 11, 2009 for an initial term of three months and Verena has the option to renew for a further three month term or more thereafter. ICS will receive a monthly fee of US$3,000. In addition, Verena has agreed to grant 300,000 incentive stock options (the "Stock Options") to George Duggan, a principal of ICS, to acquire up to an aggregate of 300,000 common shares of the Corporation, which are exercisable at $0.17 per share. The Stock Options will vest in accordance with the TSX Venture Exchange guidelines and the Corporation's stock option plan. All Stock Options expire on May 11, 2011.

ICS currently has no direct or indirect interest in securities of Verena, or any right or intent to acquire such an interest otherwise than pursuant to the exercise of the referenced options.

ICS' appointment as an investor relations consultant of Verena and the granting of the Stock Options remain subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.

About Verena

Verena Minerals Corporation is a Canadian based mineral exploration company with an outstanding portfolio of properties including gold, diamonds and gemstones in Brazil. Verena's prime focus is on advancing and expanding its 100% owned Volta Grande Project, located in Para State. Verena has a strategic alliance with Kinross Gold Corporation, which holds 7.0% of the common shares of Verena and is earning an interest in the Monte do Carmo and Patrocinio gold projects. Verena also operates the Lavrinha gold project and controls a portfolio of diamond and gem properties. Verena trades on the TSX Venture Exchange and has approximately 97.3 million common shares issued and outstanding.

Cautionary Statement on Forward Looking Information

This press release may include forward looking statements within the meaning of securities laws. Forward looking statements involve certain risks and uncertainties that could cause actual results to differ materially from what is currently expected. Accordingly, readers should not place undue reliance on forward looking statements. For a more detailed discussion of such risks and other factors, refer to Verena's filings with the Canadian securities regulators available on www.sedar.com or the Company's website at www.verena.com.

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

  • Verena Minerals Corporation
    Stephen Roman
    Chief Executive Officer
    (416) 368 2998