TSX Venture Exchange: CQV
Frankfurt Stock Exchange: DFM
ST. JOHN'S, Jan. 29 /CNW/ - Canadian Imperial Venture Corp. (the "Company") is pleased to announce that it has entered into an investor relations consulting agreement with Value Relations GmbH ("Value Relations"), whereby Value Relations will act as the Company's strategic advisor in Germany, Austria and Switzerland for a period of one year. Value Relations will work with the Company to establish and maintain a presence in the German language market in Europe by providing the Company with translation services, public relations support, investor communications and marketing strategies. In consideration for these services, Value Relations will receive a fee of 40,000 Euros, payable in four quarterly installments, as well as 1,000,000 stock options exercisable at $0.10 per share for a period of two years. In addition, Value Relations may be entitled to an additional 1,000,000 stock options following a performance review in August 2010. All stock options granted to Value Relations will vest in accordance with the Company's stock option plan and the policies of the TSX Venture Exchange. The consulting agreement, the payment of the cash fee and the issuance of stock options are subject to the approval of the TSX Venture Exchange.
There is no prior relationship between the Company and Value Relations, nor is there any prior direct or indirect interest in the Company or its securities or any right to acquire such an interest on the part of Value Relations.
Canadian Imperial Venture Corp. is an independent Canadian-based energy company with interests in petroleum exploration and development in western Newfoundland and in western Canada. Eastern Canada is the home to such developments as the Hibernia, Terra Nova, White Rose, Sable Island, Deep Panuke and McCully fields.
CANADIAN IMPERIAL VENTURE CORP.
By: "Gerard Edwards"
Gerard Edwards, MBA
Chief Financial Officer
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 Canadian Imperial Venture Corp.
For further information: For further information: Canadian Imperial Venture Corp., (709) 739-6700, Fax: (709) 739-6605, firstname.lastname@example.org; www.canadianimperial.com