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Great Western Minerals Group Renews Contract With Investor Relations Firm
Great Western Minerals Group Renews Contract With Investor Relations Firm.
About this update from Great Western Minerals Group Ltd
[{"type":"text","content":"News ReleaseGreat Western Minerals Group Ltd.TSX VENTURE: GWGOTCQX: GWMGFCUSIP: 39141Y 10 3Great Western Minerals Group Renews Contract With Investor Relations FirmSASKATOON, SASKATCHEWAN--(February 10, 2011) - Great Western Minerals Group Ltd. (\"GWMG\" or the \"Company\") (TSX VENTURE:GWG) (OTCQX:GWMGF) announced today that it has renewed its existing investor relations agreement with Stone Communication Services Limited (\"SCS\") of Toronto, Ontario (the \"Agreement\").SCS specializes in the execution of tailored, strategic communication programmes for emerging companies and will introduce GWMG to Stone Communications' network of brokers, analyst and portfolio managers. SCS is a wholly owned subsidiary of Stone Investment Group.The Agreement has a term of two years, pursuant to which SCS will provide investor relations services to GWMG including the development of investor relations strategies relating to advertising programs and investor awareness and fostering broker and analyst interest in the Company's activities. Subject to regulatory approval, as compensation for its services SCS will receive a retainer fee of $4,000 per month, reimbursement for related expenses and an aggregate of 1,500,000 options to purchase common shares in the capital of GWMG pursuant to the terms of GWMG's stock option plan (the \"Options\"). 375,000 Options will vest immediately and an additional 375,000 Options will vest every three months thereafter, with all Options having an exercise price of $1.05. Jim Engdahl, President and CEO of Great Western Minerals Group said, \"We are very pleased to continue our relationship with Stone Communications, their efforts have been invaluable.\" About Great Western Minerals Group Ltd. Great Western Minerals Group Ltd. is an integrated Rare Earths processor. Its specialty alloys are used in the battery, magnet and aerospace industries. Produced at the Company's wholly owned subsidiaries Less Common Metals Limited in Birkenhead, U.K. and Great Western Technologies Inc. in Troy, Michigan, these alloys contain aluminium, nickel, cobalt and Rare Earth Elements. As part of the Company's vertical integration strategy, GWMG has signed an Off-take Agreement for 100% of the Rare Earth Elements produced at the former producing Steenkampskraal mine in South Africa and holds 70.2% ownership in Rare Earth Extraction Co. ...