Trading Symbol: VPI
VANCOUVER, July 30 /CNW/ - Vitality Products Inc. (the "Company") is pleased to announce that it has retained the RAYA Group ("RAYA") to provide investor relations and corporate finance and investment sourcing related services to the Company. RAYA'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 RAYA is for an initial term of six months. RAYA will be paid a monthly retainer of $6,500 per month for the months of August and September and $8,500 per month for the months of October to January. The retainer includes investor relations consulting fees, as well as all expenses related to corporate finance duties. RAYA will also be granted 300,000 options, exercisable at a price of $0.20 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 RAYA is subject to regulatory approval.
RAYA was founded in 1987 by Mr. Robert A. Young, its principal, and currently maintains its offices in Vancouver, British Columbia. RAYA and Mr. Young are at arm's length to the Company. RAYA does not own any securities of the Company. Mr. Young owns 68,000 common shares 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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