Search Minerals Inc. (TSX VENTURE:SMY) ("Search" or the "Company") is pleased to announce that it has contracted with InvestorIntel Corp ("InvestorIntel") of Toronto, Ontario for marketing, consulting and investor relations services for a one year term. Under the terms of the contract, these services will begin immediately and InvestorIntel will receive $ 15,000 for the subscription service and a monthly fee of $ 3,750.00 for one year. Also, InvestorIntel will be entitled to receive 500,000 options at $ 0.10, which vest over the 12-month contract period, in accordance with TSX Venture policies.
Greg Andrews, President and Chief Executive Officer of the Company, states, "Search has worked with InvestorIntel since 2014 and is pleased to now add their IR Premium Service to the existing relationship. InvestorIntel has followed the rare earth industry since 2009 and has a very strong network and understanding of our business. The timing for engaging InvestorIntel is excellent as Search continues to advance previous and new discussions regarding separation options and funds a Deep Fox drill program for 2017."
Tracy Weslosky, President of InvestorIntel states, "In 2009, we had the fortunate experience of being at the forefront of the international rare earth market through our team of analysts and industry experts when the market exploded from just under a dozen public companies to nearly 700 at the height of this market sector in 2012. Today, the market has recreated the 2008 formula whereby only a handful of companies are addressing the dire need for sources of rare earths outside of China to deal with issues surrounding sustainability and technology production. With a wide range of uses from magnetic materials to electric vehicles, the demand for rare earths will ultimately force a market turnaround. It is with great pleasure that today we announce the representation of Search Minerals Inc. as investor relations clients, as they are unquestionably leading the race for production in North America."
InvestorIntel does not own any shares of Search Minerals Inc.
Search also announces that it has granted a total of 600,000 stock options to consultants of the Company. All of the stock options are exercisable for a period of 2 years at a price of $0.10. The options have been granted pursuant to the Company's Stock Option Plan.