MONTREAL, Jan. 16, 2013 /CNW Telbec/ - Imaflex is pleased
to announce that, effective as of January
15, 2013 (the "Effective Date"), it has engaged SectorSpeak
Inc. (the "Consultant") pursuant to a capital markets consulting
agreement (the "Agreement"), to assist the Company in developing
its investors relation strategy and undertake investor relations
and communications activities for the Company in Canada and abroad. Imaflex is committed to
implementing a thorough investor relations program to increase the
company's capital market visibility. SectorSpeak is a Canadian
capital markets consulting company focused on providing investor
relations and corporate finance services to North American
companies.
Under the terms of the Agreement, Imaflex will pay SectorSpeak a
monthly retainer fee of $3,000 for
its services for the first six (6) months and $5,000 per month thereafter until termination of
the Agreement. The Agreement will be automatically renewed further
to the initial six (6) months term and may be terminated by either
party at any time by giving the other party a thirty (30) days
prior written notice. Imaflex will also grant SectorSpeak up to
200,000 incentive stock options (the "Options") entitling
SectorSpeak to acquire up to 200,000 common shares of the Company
(the "Common Shares") for a period of two (2) years from the date
of grant of the Options. Based on the terms and conditions of the
Company's stock option plan, one quarter of the Options vest
immediately upon grant with an additional quarter vesting every
three month period thereafter. 100,000 Options are granted as of
the Effective Date at an exercise price of $0.36 per Common Share until January 15, 2015 and another 100,000 Options will
be granted in six (6) months from the Effective Date provided the
Agreement has not previously been terminated. The Agreement and the
granting of the Options pursuant thereto are subject to the
approval of the TSX Venture Exchange.
SectorSpeak Principal, Mr. Hogan Mullally, currently has no
direct or indirect interest in securities of Imaflex and will
maintain an arm's-length relationship with Imaflex.
Safe Harbor Statement
Certain statements and information included in this release
constitute "forward-looking statements". Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of the Company to be materially different from any
future results, performance or achievements expressed or implied in
such forward-looking statements. Additional discussion of
factors that could cause actual results to differ materially from
management's projections, estimates and expectations is contained
in the Company's other public filings. Unless otherwise
required by the securities authorities, we do not undertake to
update any forward-looking statements that may be made from time to
time by us or on our behalf.
Neither 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 IMAFLEX INC.