Medallion Resources Appoints R+R Consulting
Vancouver, BC – Medallion Resources Ltd (TSX-V: MDL; OTCQB: MLLOF – “Medallion” or the “Company”), today announced that it has appointed R&R Consulting (“R&R”) to provide investor relations services to the Company.
R&R Consulting, with offices in Vancouver and Toronto, is a newly-formed investor relations advisory firm founded by principals Richard Penn and Roman Rubin. Most recently, Richard Penn worked in the brokerage industry specializing in venture capital financing and new issues; Roman Rubin has held senior management positions in the Canadian private wealth sector, renewable energy as well as real estate development financing. R&R will carry out on behalf of Medallion the development of an investor relations program, dissemination of corporate information, and assistance with broker and investor presentations and communications.
The engagement is for a term of one year and may be terminated by either party on 30-days written notice. Medallion will pay a fee to R&R of $7,000 per month plus expenses incurred on behalf of the Company. Medallion has also granted R&R 400,000 incentive options to purchase shares of the Company at a price of $0.06 per share, for a period of five years. The options are subject to vesting over the term with 25% vesting after the first three months and 25% every quarter until fully vested. Both the option and investor relations consulting engagement are subject to the approval of the TSX Venture Exchange.
The Company also announces that it has granted an additional 1,340,000 incentive stock options to directors, officers, and consultants under the Company’s stock option plan. The options will be exercisable for a period of five years, at a price of $0.06 per share, subject to regulatory approval.
About Medallion Resources
Medallion Resources is focused on the opportunity for low-cost, near-term, rare-earth production by exploiting the mineral monazite. Monazite is a rare-earth phosphate that is available as a by-product from existing mining and mineral-sands sources, principally in the Indian Ocean basin. Rare earths are used in critical components for virtually all computing and mobile electronic products, as well as wind turbines, electric and hybrid vehicles, and strategic defense systems. Medallion is committed to following best practices and accepted international standards in all aspects of mineral processing and the safe management of waste materials. More about Medallion (TSX-V: MDL; OTCQB: MLLOF; Frankfurt: MRD) can be found at medallionresources.com.
Donald Lay, President & CEO at +1.604.681.9558 or firstname.lastname@example.org
Medallion management takes full responsibility for content and has prepared this news release. 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. Some of the statements contained in this release are forward-looking statements, such as statements relating to completion of extraction processing tests, and estimates and statements that describe Medallion’s future production and financing plans, objectives or goals, including words to the effect that Medallion or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties, including the risks inherent in completing laboratory-scale processing tests and applying the results to full-scale production and other risks outlined in the Company’s management discussions and analysis of financial results. Actual results in each case could differ materially from those currently anticipated in these statements. Such risks include expectations that may be raised by discussing potential business, acquisitions or development plans. Also, in order to proceed with Medallion’s plans, additional funding will be necessary and, depending on market conditions, this funding may not be forthcoming on a schedule or on terms that facilitate Medallion’s plans.