Parkside Resources Engages Investor Relations Firm
/NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO, March 11, 2014 /CNW/ - Parkside Resources Corporation (TSX-V: PKS) ("Parkside" or, the "Company") is pleased to announce that it has engaged IRonside Investor Relations Inc. ("IRonsideIR") to provide strategic investor relations and financial communication services to the Company, effective March 1, 2014. Under the terms of the agreement Parkside Resources Corporation will pay IRonsideIR a monthly fee of $2,500 for a term of six months, extendable for a further six months at $5,000 per month. In addition, subject to the approval of the TSX Venture Exchange (the "Exchange"), IRonsideIR has been granted options to purchase 100,000 shares of Parkside Resources Corporation at a price of five cents ($0.05) per share, valid for three years, and vesting quarterly over one year. The options will be governed by the provisions of Parkside's stock option plan and the policies of the Exchange and applicable securities laws. IRonsideIR and its principals act at arm's length to Parkside and currently have no direct or indirect interest in the securities of Parkside, or any right or intent to acquire such an interest, except as disclosed within. The agreement and grant of stock options are subject to the approval of the Exchange.
Robin Sundstrom, President of IRonside Investor Relations Inc., comments: "The team at IRonsideIR is looking forward to working with the management of Parkside Resources to communicate to its shareholders and the public markets the exciting potential of its 4,352 hectare Forester Lake Gold Project in Northwestern Ontario, 35 kms southeast of Goldcorp's producing gold mine at Musslewhite."
David Mason, President and CEO of Parkside Resources, comments: "I have successfully worked with Robin Sundstrom in the past with Augen Gold Corp. and look forward to having IRonsideIR assist Parkside in increasing the awareness of the Company and its Forester Lake Gold Property".
Further to our news releases dated October 24, 2013 and October 29, 2013, the Company also announces that it has received approval from the Exchange for an extension to complete the non-brokered private placement financing announced on October 24, 2013. The terms of the financing were subsequently amended and disclosed in our news release dated October 29, 2013 and are comprised of 15,000,000 Non-Flow-Through Units ("Unit") at a price of $0.05 per Unit; and 16,666,667 Flow-Through Units ("FT Unit") at a price of $0.06 per FT Unit for gross proceeds of up to $1,750,000 (the "Offering"). Each Unit will consist of one common share and one share purchase warrant (a "Warrant"), entitling the holder to purchase one common share at $0.10 per share within 60 months from the date of issue of the Warrant. Each FT Unit will consist of one flow-through common share and one Warrant entitling the holder to purchase one common share at $0.12 per share within 60 months from the date of issue of the Warrant. Both the Unit and FT Unit Warrants are subject to an acceleration clause, whereby if the price of the common shares of Parkside closes at $0.15, or greater, for a period of 20 consecutive trading days, then Parkside shall have the right to notify the warrant holders that the warrants shall expire if they are not exercised on or before the date that is 30 days after such notice has been issued. The proceeds from the Flow-Through Private Placement will be used to fund exploration expenses for a proposed 2,500 metre 2014 drill program on the Forester Lake Gold Property. The proceeds from the Non-Flow-Through Unit Private Placement will be used for general corporate and working capital purposes. Finder's fees may be payable in connection with the Offering, in accordance with the policies of the Exchange.
As of March 7, 2014 the Company had issued 517,000 FT Units and 300,000 Units in relation to the private placement. 417,000 of the FT Units and 200,000 of the Units issued are subject to a hold period that expires on May 1, 2014. 100,000 of the FT Units and 100,000 of the Units issued are subject to a hold period that expires on July 5, 2014. In connection with the issuance of the 417,000 FT Units a cash finder's fee of $1,751.40 was paid and 29,190 finder's warrants, with a hold period that expires on May 1, 2014, were issued. Each finder's warrant is exercisable to purchase one common share at a price of $0.06 until December 31, 2018.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian based mineral exploration company dedicated to building shareholder value through focused exploration, discovery and development of high quality precious and base metal projects. The Company has entered into an Option and Joint Venture Agreement with Benton Resources Inc. to explore the Forester Lake Gold Property, and has earned a 60% interest in the Property, which is located approximately 100km north of Pickle Lake, Ontario and roughly 35km southeast of Goldcorp's Musselwhite Gold Mine. Incorporated in 2005, Parkside Resources Corporation is a reporting issuer in the provinces of British Columbia and Alberta, the common shares of which are listed for trading on the TSX Venture Exchange under the symbol TSX-V: PKS.
About IRonside Investor Relations Inc.
IRonside Investor Relations is an independent communications consultancy based in Toronto. It specializes in corporate communications, shareholder relations, branding, and design. Focused on good governance and corporate sustainability, IRonsideIR is dedicated to one task - raising the positive perception of its clients with their target business and media audiences. IRonsideIR's senior consultants have a combined 80 years in corporate communications, and have worked with public and private companies in many industries, from resources to banking to technology. All are entrepreneurs in their own right, contributing to a problem-solving approach that provides client satisfaction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking and other Cautionary Information
This release includes certain statements that may be deemed "forward‐looking statements". All statements in this release, other than statements of historical facts that address exploration drilling, exploitation activities and other related events or developments are forward‐looking statements. Although the Company believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward looking statements. Factors that could cause actual results to differ materially from those in forward‐looking statements include market prices, exploration and exploitation successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward‐looking statements.
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