VANCOUVER, Nov. 28, 2012 /CNW/ - Northern Iron Corp. (TSX-V: NFE) (OTCQX-NHRIF) (FRANKFURT; N81); ("Northern" or the "Company") has retained the services of Cutler McCarthy Inc. ("Cutler McCarthy") to strengthen its investor relations and corporate communications programs.
"With a strong cash position, growing order book and proposed near-term production of hot briquetted iron from the past producing Griffith mine, Northern Iron is in an enviable position relative to many of its peers. We believe the strength of our board, management team and projects needs to be more effectively communicated to new and existing shareholders. We have retained the services of Cutler McCarthy to leverage their expertise, contacts and experience to lead and facilitate that process and become an integral part of our investor relations team," said, Basil Botha, President & CEO of Northern Iron.
Cutler McCarthy will receive a fee of CDN$5,000 per month for a period of 12 months. The Company will also grant an option to Cutler McCarthy to purchase 300,000 common shares of the Company over a two year period subject to regulatory approval. The options will be released in three tranches of 100,000 options, the first tranche being released in December 2012, the second in March 2012 and the final tranche in June 2012. The options will vest in stages over the 12 month period of the contract. The option price of each tranche will be determined at market value of the stock price on the grant date of each tranche.
About Cutler McCarthy Inc.
Headquartered in Toronto, Canada, Cutler McCarthy is a dynamic financial communications firm offering a full range of services including investor relations, public relations, financial advisory services and corporate communications. Specializing in the natural resources sectors, Cutler McCarthy leverages the experience of seasoned industry professionals to deliver fully integrated investor focused strategies. Past clients include Alternative Energy, Junior Mining, and Oil & Gas companies listed on the global stock exchanges.
About Northern Iron Corp.
The Company is a 100% owner of five iron ore properties in the Red Lake district containing over 500 million tonnes of historical resources with grades ranging from 22% to 31% Fe. The Red Lake district is situated in an established mining area in Ontario, where the company has two near term development projects, the past producing Griffith mine and the Karas property. For more information visit www.northernironcorp.com
The foregoing information may contain forward-looking statements relating to the future performance of the Company. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. The Company does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
On Behalf of the Board of Directors
NORTHERN IRON CORP.
President & CEO
SOURCE: Northern Iron Corp.
For further information:
Northern Iron Corp.
President & CEO
Cutler McCarthy Inc.