TSX Venture Exchange Symbol "BRY"
EDMONTON, Aug. 3 /CNW/ - Bri-Chem Corp. ("Bri-Chem" or the "Company") (TSX Venture Exchange: BRY) a leading Canadian wholesale distributor of oil & gas drilling fluids, steel products and services today announced it has retained Cavalcanti Hume Funfer Inc. (CHF Investor Relations). CHF is a highly regarded Canadian investor relations firm headquartered in Toronto operating under the same management for the past seventeen years.
"Last month we launched a new comprehensive investor awareness campaign. To steer these efforts Bri-Chem has brought in one of Canada's most respected IR firms in CHF Investor Relations. This IR firm's sensible relationship-building approach matches Bri-Chem's corporate values. Now in our 4th year as a public company, we are eager to share Bri-Chem's story and highlight our potential growth opportunities to a whole new audience of investors," explained Don Caron, President and CEO of Bri-Chem.
Effective immediately, the services agreement for investor relations and market-making is for a term of twelve months, subject to a mutually satisfactory review after six months. Under the terms of the services agreement, which is subject to TSX Venture Exchange approval, CHF will receive $7,500 per month in fees and reimbursement of expenses. CHF has been granted a total of 25,000 options with 12,500 options exercisable at $2.00 and 12,500 options exercisable at $2.10. The options vest in stages over twelve (12) months with no more than one quarter of the options vesting in any three-month period and expire in 24 months. Upon termination of the contract, CHF will have 30 days to exercise any vested options.
It has been agreed that CHF will initiate a Market Liquidity Program, more commonly referred to as market-making, through its Calgary office. Bri-Chem shareholders, Mr. Brian Campbell and Mr. Alan Campbell, have loaned BRY shares from their personal shareholdings for the purposes of market-making. Both shareholders are directors of the Company. This Program will be undertaken by CHF through a registered broker in compliance with the guidelines set out in Policy 3.4 of the TSX Venture Exchange Corporate Finance Manual.
Prior to the grant of options outlined above, CHF had no direct or indirect interest in the Company or its securities.
About CHF Investor Relations
CHF's effective role is acting as the public company's outsourced, low-cost equivalent to an internal investor relations department. CHF serves an international portfolio of TSX / Venture-listed companies, and others that may seek to list on North American Exchanges that operate in a broad range of industries including energy and industrial services, mining exploration and producers, oil & gas, biotech, high-tech, business solutions and products, niche financial products, and "green" companies. The depth of capital market experience is formidable dating back to the late 1970's. CHF's head office is in Toronto, with another Canadian office in Calgary; as well as branch offices in New York, USA; São Paulo, Brazil; and Shanghai, China.
Bri-Chem is a wholesale distributor of drilling fluids and steel products and services to the oil & gas and construction industries. Bri-Chem provides over 150 domestic and foreign drilling fluid products to customers throughout Alberta, British Columbia and Saskatchewan, and distributes drill pipe, carbon steel welded pipe, carbon steel seamless pipe, stainless steel welded pipe, stainless steel seamless pipe, tubing and casing, galvanized steel products as well as fittings and flanges. Bri-Chem's customers operate in a wide range of industries, including oil & gas, manufacturing, forestry, agriculture, construction and mining.
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Certain statements contained in this press release, including statements which may contain words such as "could", "should", "expect", "anticipate", "believe", "will", and similar expressions and statements relating to matters that are not historical facts are forward-looking statements. Such forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of Bri-Chem to be materially different from any future results, performances or achievements expressed or implied by such forward looking statements. Such factors include, but are not limited to, fluctuations in oil & gas activity levels, political and economic conditions, and the demand for products provided by Bri-Chem.
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.
SOURCE BRI-CHEM CORP.
For further information: For further information: Don Caron, Bri-Chem Corp., President and CEO, T: (780) 420-6885, E: firstname.lastname@example.org; Chris Haldane, CHF Investor Relations, Account Manager, T: (416) 868-1079 x237, E: email@example.com; Cathy Hume, CHF Investor Relations, CEO, T: (416) 868-1079 x231, E: firstname.lastname@example.org