Trading Symbol: VPI
VANCOUVER, Oct. 31 /CNW/ - Vitality Products Inc. (the "Company") is pleased to announce that it has retained Carlyle Capital Corporation ("Carlyle") to provide investor relations and corporate finance and investment sourcing related services to the Company. Carlyle's business is to provide information on the Company to shareholders and qualified investors through internet media, advertising, presentations, conferences and trade shows with a goal of improving the Company's overall visibility in the investment community.
The contract with Carlyle is for an initial term of six months. Carlyle will be paid a monthly retainer of $15,000 per month which includes investor relations consulting fees, as well as all expenses related to corporate finance duties. Carlyle has also been granted 150,000 options, exercisable at a price of $0.60 per share. The options shall vest in increments of 25% in each of the first four quarters, and are governed by the terms and conditions of the Company's stock option plan. The contract with Carlyle is subject to regulatory approval.
Carlyle was founded in 2005 by Mr. Morgan Good, its principal, and currently maintains its offices in Vancouver, British Columbia. Carlyle and Mr. Good are at arm's length to the Company. Carlyle does not own any securities of the Company. Mr. Good owns 75,000 common shares and 75,000 share purchase warrants in the capital of the Company.
On behalf of the Board of
VITALITY PRODUCTS INC.
"William N. Grant" (signed)
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William N. Grant, President & CEO
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
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