Jun. 8, 2011 (Canada NewsWire Group) --
Trading Symbol: TSX-V: JSP
CALGARY, June 8, 2011 /CNW/ - Jasper Mining Corporation (the "Company") (TSXV: JSP) is pleased to announce that it has entered into an investor relations agreement with Beaumont Capital Corp. of Calgary, Alberta ("Beaumont"). Beaumont currently owns 300,000 common shares of the Company and holds 50,000 common share purchase warrants. Under the terms of the Investor Relations Agreement, Beaumont will elevate the Company's market awareness, investor relations and corporate communication activities. The services will include providing investor communication, corporate communication, public relations support and information about the Company to shareholders and qualified investors. The consulting Agreement does not require Beaumont to conduct market-making activities.
Under the six (6) month Agreement (extendible in three (3) month terms), Beaumont is to receive $5,000 per month, be reimbursed for related expenses, and has been granted stock options to purchase up to 300,000 shares of the Company at an exercise price of $0.26 per share for a term of three years expiring on June 2, 2014. The stock options will vest as to 25% of the total options granted in three months, with a further 25% of the options each three months thereafter. In the event of the termination of the Agreement, all options would be cancelled after 30 days.
The consulting agreement, the payment of the cash fee and the issuance of stock options are subject to the approval of the TSX Venture Exchange.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Gordon F. Dixon, Q.C., President, Jasper Mining Corporation
Telephone: (403) 297-9483 Fax: (403) 266-1487
Email: gdixon43@telus.net