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CALGARY, May 12 /CNW/ - Vesta Capital Corp. (VES.P: TSX-V) ("Vesta" or the "Corporation"), is pleased to announce that Mr. Peter Rudakas has joined the Corporation as Vice President of Exploration and Development, effective May 7, 2010.
Mr. Rudakas has over 30 years of Western Canadian and International experience with a number of Canadian energy companies and for the last 14 years has been President of Impel Corporation, a private consulting and oil & gas company. Prior to creating Impel Corporation, Mr. Rudakas was President and Director of New Energy West and responsible for its start up and initial success. He was also Vice President of Exploration and Development of Acanthus Resources from 1986 to 1994. Mr. Rudakas graduated with a Masters degree in Geography and a Bachelor of Science degree in Geology both from the University of Windsor and upon graduation was hired by PetroCanada.
Vesta is also pleased to announce that it has retained the services of Brisco Capital Partners Corp. ("Brisco") to provide investor relations services. Brisco will initiate and maintain contact with the financial community, shareholders, investors and other stakeholders for the purpose of increasing awareness of the Company and its activities. Brisco takes a full service approach to investor relations and provides creative, effective results-driven investor relations programs for Canadian public companies.
The agreement is effective immediately, and may be terminated by either party at any time. Brisco will be paid a monthly fee of $7,500, and will be granted 500,000 stock options ("Brisco Options"), pursuant to the terms of the Corporation's Stock Option Plan ("Plan")
Additionally, the Corporation announced that, subject to regulatory approval, it intends to grant a total of 7,850,000 stock options to eligible participants under the Plan ("Additional Options"). A total of 5,250,000 of the Additional Options were granted to directors and officers of the Corporation, 1,100,000 were granted to consultants and employees of the Corporation and 1,500,000 for Investor Relations services to parties other than Brisco and in addition to the Brisco Options. Both the Brisco Options and the Additional Options were granted at an exercise price of $0.15, will expire five years from the date of grant will vest 1/3 per year at the end of each year for 3 years, and are subject to regulatory approval.
Vesta Capital Corp is a Canadian based corporation with management very experienced in the oil and gas industry and has projects in California. Vesta Capital Corp is publicly traded on TSX Venture Exchange (TSX-V: VES). Additional information may be found at www.sedar.com.
SOURCE VESTA CAPITAL CORP.
For further information: For further information: Dr. Arthur Halleran, CEO, (403) 667-4941, firstname.lastname@example.org; Scott Koyich, President, Brisco Capital Partners, (403) 262-9888, email@example.com; or Graeme Dick, BMgnt, Brisco Capital Partners, (403) 561-8989, firstname.lastname@example.org