/THIS NEWS RELEASE IS NOT FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, April 22, 2013 /CNW/ - Magna Resources Ltd. (CNSX: MNA) (the "Company" or "Magna") is pleased to announce that it has entered into an investor relations services agreement ("Agreement") with Bridgemark Capital Corp. ("Bridgemark") for a term of 6 months commencing on April 15, 2013 (the "Effective Date") subject to regulatory approval. The Agreement may be renewed or terminated at the option of the Company by giving thirty (30) days written notice.
As consideration for services provided, the Company will pay Bridgemark a fee of $7,500 plus applicable taxes per month. The Company will also grant Bridgemark, in accordance with the policies of the CNSX Exchange and the Company's Stock Option Plan, an incentive stock option to purchase 150,000 common shares in the capital of the Company exercisable for a period of 18 months, commencing on the Effective Date, at an exercise price of $0.10 per common share.
Bridgemark is a financial advisory firm focused on providing services in connection with developing financial strategies, undertaking capital raises and negotiating strategic partnerships. Bridgemark has an established international network of financial industry professionals including investment advisors, bank owned investment dealers and leading independent financial firms.
About the Company
Magna Resources Ltd. is dedicated to the acquisition and development of potash mineral deposits in the USA and elsewhere. The Company holds certain State potash leases and an option in respect of certain federal potash prospecting permit applications in the State of Utah that constitute the Green River Potash Project, host to a significant potash exploration target, through a wholly owned subsidiary, American Potash LLC, a Nevada limited liability corporation.
This news release contains forward-looking statements regarding completion of the Proposed Distribution. Forward-looking statements may be identified by words such as "intends", "proposed", "if", "may" and words of similar meaning. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include failure of Confederation to obtain the Court Order or approval of the CNSX Exchange. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
SOURCE: Magna Resources Ltd.
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