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| | Fri May 25, 2012
Cangold Engages Investor Relations Consultants; Grants Stock Options
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| | CANGOLD LIMITED (TSX-V: CLD, the "Company") announces that it entered into a consulting agreement (the "Agreement") with San Diego Torrey Hills Capital, Inc. (the "Consultant") on April 15, 2012 for the provision of investor relations services including developing, coordinating, managing and executing a comprehensive corporate finance and investor relations campaign for the Company. The Agreement is for an initial period of 12 months and is renewable.
San Diego Torrey Hills Capital, Inc. is a consulting services company based in Rancho Santa Fe, California. CANGOLD has no prior relationship with the Consultant. However, certain principals of the Consultant have previously purchased shares of the Company.
As compensation for the consulting services provided by the Consultant, CANGOLD will pay a monthly fee of US$5,000 and has granted the Consultant an option to purchase a total of 100,000 common shares at $0.15 per share. The options vest as to 25,000 shares on August 25, 2012 and 25,000 shares every 3 months thereafter until May 25, 2013. The options expire May 24, 2015.
The Company also announces that it has granted stock options to directors, senior officers, employees and other consultants to purchase an aggregate of up to 2,180,000 shares. The options are exercisable at a price of $0.15 per share and expire five years from the date of grant.
FURTHER INFORMATION
For further information, please visit the Company's website at www.cangold.ca or contact BD Capital at telephone 604 685 6465, fax 604 899 4303 or e-mail info@cangold.ca.
ON BEHALF OF THE BOARD
"Robert A. Archer"
Robert A. Archer, P. Geo.,
President & CEO
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. |
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| | You can view the Next News Releases item: Mon Jun 11, 2012, Cangold Advances Metallurgical Program To Pre-Feasibility Level For Ixhuatan Gold-Silver Project
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