Gitennes engages investor relations consultant, closes private placement, and grants stock options

VANCOUVER, April 21 /CNW/ - Gitennes Exploration Inc. (TSXV: GIT) is providing the following update of corporate activities:

Investor Relations: Gitennes Exploration Inc. (TSXV-GIT) (the "Company") is pleased to announce the engagement of MarketSmart Communications Inc. as an investor relations consultant. MarketSmart will develop and execute a comprehensive marketing and investor communications plan to help raise awareness of the Company.

MarketSmart Communications Inc. is a Vancouver-based marketing and communication firm that will introduce Gitennes Exploration Inc. to their investor network, national brokerage firms, provide shareholder and investor communication services and arrange media, advertising and other public relations programs.

"We are very excited about Gitennes Explorations Inc. We look forward to the opportunity to introduce our network of investors to a company that is currently exploring gold, silver and rare metal prospects in Canada and Peru, and to a management team with a proven track record" said Maria Da Silva, President of MarketSmart Communications Inc.

MarketSmart will receive $5,000 per month for a twelve-month contract period and 300,000 stock options, pursuant to the Company's stock option plan, at a price of $0.20. The options will vest quarterly over a 12-month period in accordance with TSX Venture policies.

Private Placement Closes: The Company advises that it has closed the private placement announced March 9, 2011. The Company has issued an aggregate of 1,090,000 units at a price of $0.15 per unit for gross proceeds of $163,500. Each unit consists of one common share and one share purchase warrant. Each warrant entitles the holder to purchase one additional common share at a price of $0.18 until April 20, 2012, then at a price of $0.25 until expiry on October 22, 2012. The securities issued pursuant to the placement are subject to a four month hold period. The private placement was made entirely to arm's length subscribers.

The net proceeds of the private placement will be used for financing exploration and development activities, and for general corporate purposes. The Company paid a total of $4,320.00 in finder's fees in connection with the placement.

Grant of Options: The Company announces that it has granted an aggregate of 1,750,000 incentive stock options with an exercise price of $0.20 per share to directors, officers and consultants of the Corporation. 300,000 of the options were granted to MarketSmart, as described above. The options are being granted pursuant to the Company's stock option plan, and are for a five year term. The stock option grant is subject to acceptance by the TSX Venture Exchange.

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 Gitennes Exploration Inc.

For further information:

Jerry Blackwell

Profil de l'entreprise

Gitennes Exploration Inc.

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