VANCOUVER, June 16, 2011 /CNW/ - Smartcool Systems Inc. (TSXV: SSC) is pleased to announce that it has entered into an
agreement (the "Agreement") with Innovative Research Associates, Inc.
(IRA) for investor relations and public capital markets advisory. IRA
is a wholly owned subsidiary of Murdock Capital Partners Corp. of New
York City, with whom Smartcool entered into an agreement in May of this
year for corporate and other advisory services. As such, IRA will
assume all of the investor relations advisory and consulting
responsibilities, while Murdock Capital Partners will continue to
provide investment banking and other corporate advisory services
directly to Smartcool.
The range of activities that IRA shall undertake in collaboration with
Smartcool include coordinating investor meetings, developing and
producing corporate presentations and generally facilitate and enhance
the company's relations and communications with its shareholders and
the investing community.
The term of the agreement is 12 months from the effective date of June
1, 2011 until June 30, 2012 with the possible extension of the
Agreement on a monthly basis thereafter. The Agreement may be
terminated by either party on 30 days written notice. IRA shall be paid
a fee of US$8,500 per month during the term of the Agreement commencing
30 days after the date of the Agreement. Additionally, 480,000
incentive stock options will be granted at an exercise price of
CAD$0.40 per share, which options shall vest and be exercisable at the
rate of 40,000 options per month during the term of the Agreement. The
anticipated total cost of this agreement to Smartcool for the 12 months
is approximately US$102,000. Smartcool expects to pay the costs of the
Agreement from funds on hand.
The agreement with IRA is subject to the approval of the TSX Venture
Neither the TSX Venture Exchange nor its Regulation Services Provider
accepts responsibility for the adequacy or accuracy of this release.
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy
efficient and energy cost reduction solutions for businesses around the
world. The ESM™ and ECO3™ are Smartcool's unique retrofit technologies that reduce the energy
consumption of compressors in air conditioning, refrigeration and heat
pump systems, with no risk to existing equipment performance. www.smartcool.net
SOURCE SmartCool Systems Inc.
For further information:
| Direct Inquiries || Canadian Investor Inquiries || US Investor Inquiries |
| Smartcool Systems Inc. || Howard Group Inc. || Murdock Capital Partners Corp. |
| George Burnes, || Jeff Walker || Luis J. Mejia |
| CEO of Smartcool || Senior Associate || Managing Partner |
| T. 604 639 5625 || T. 403 221 0915 ext 222 || T. 917 535 8755 |