Northquest Ltd. Announces Investor Relations Manager & Grant of Stock Options
November 04 2011 - 2:46PM
Marketwired
Northquest Ltd. (TSX VENTURE:NQ) ("Northquest" or the "Company")
announced today that following an initial probationary period, Ms.
Tanya Mahadeo of Toronto, Ontario has been retained as Corporate
Investor Relations Manager on a on-going basis to assist the
Corporation with investor relations activities for current
shareholders and potential investors. Ms. Mahadeo has extensive
communication and investor relations experience with Canadian
public companies, including most recently having worked for a
Canadian public company listed on the Toronto Stock Exchange. Ms.
Mahadeo also maintains relationships with retail brokers,
investment firms, institutional funds, in Canada, the US and
Europe. Services provided by Ms. Mahadeo will focus on the investor
communications, planning and coordination of investment meetings,
providing newswire services, and management of communications
material, with a view to achieving a high level of awareness of
Northquest in the investment community and to broaden the
shareholder base.
Ms. Mahadeo will be issued 100,000 stock options to purchase
common shares of the Company at $0.92 per common share, for a
period of five years. One-third of such stock options vest
immediately, one-third shall vest on the first anniversary of the
date of grant, and one-third shall vest on the second anniversary
of the date of grant. On a going forward basis, she will also
receive an annual salary of $70,000, and shall be eligible to
receive an annual bonus on such terms as may be determined at the
sole discretion of the board of directors of the Company. The
agreement shall continue for an indefinite period and may be
terminated (i) by Northquest for just cause; (ii) by Northquest
upon payment of one month's base salary for each year of service;
or (iii) by Ms. Mahadeo upon two-week's written notice. Ms. Mahadeo
will not engage in market making activities and will restrict her
services to public relations and investor relations
counselling.
The appointment of Ms. Mahadeo remains subject to the approval
of the TSX Venture Exchange.
Northquest is a mineral exploration company focused on the
acquisition, exploration and development of properties for the
mining of gold and other minerals.
Forward-Looking Statements
Certain information set forth in this news release may contain
forward-looking statements that involve substantial known and
unknown risks and uncertainties. These forward-looking statements
are subject to numerous risks and uncertainties, certain of which
are beyond the control of Northquest, including, but not limited
to, the impact of general economic conditions, industry conditions,
volatility of financial markets and commodity prices, risks
associated with the uncertainty of exploration results and
estimates and that the resource potential will be achieved on
exploration projects, currency fluctuations, dependence upon
regulatory approvals, and the uncertainty of obtaining additional
financing and exploration risk. Readers are cautioned that the
assumptions used in the preparation of such information, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
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.
Contacts: Northquest Ltd. Dr. Jon North President and Chief
Executive Officer (416) 786-6348www.northquest.biz