12th Oct 2009 08:13
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE UNITED STATES
October 12, 2009
Xcite Appoints Investor Relations Specialists in Canada
Xcite Energy Limited ("Xcite" or the "Company") (TSX Venture: XEL, AIM: XEL), announces that it has appointed Montreal-based Paradox Public Relations ("Paradox"), to provide investor relations services in Canada.
Paradox services include road shows, presentations, press releases, facilitating contact with the investment community and responding to shareholders and other interested parties. For additional information on Paradox, please visit www.paradox-pr.ca.
Paradox is arms' length to the Company. The term of the agreement with Paradox is 24 months and may be terminated by the Company or Paradox on 15 days' written notice.
Under the terms of the agreement, the Company will pay Paradox fees of CDN$8,000 per month. In addition, Paradox has been granted options over 200,000 ordinary shares in Xcite with a term of five years, vesting 25% on a quarterly basis over twelve months from the date of grant and with an exercise price of CDN$0.37 per share.
ENQUIRIES:
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Xcite Energy Limited |
+44 (0) 1330 826 740 |
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Richard Smith |
Chief Executive Officer |
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Rupert Cole |
Chief Financial Officer |
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Paradox Public Relations |
+1 514 341 0408 |
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Jean-Francois Meilleur Karl Mansour |
Consultant Consultant |
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Strand Partners Limited |
+44 (0) 20 7409 3494 |
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James Harris |
Director |
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Rory Murphy |
Director |
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Pelham Public Relations |
+44 (0) 20 7337 1500 |
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Mark Antelme |
Director |
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.
Forward-Looking Statements
Certain statements contained in this announcement constitute forward-looking information within the meaning of securities laws. Forward-looking information may relate to the Company's future outlook and anticipated events or results and, in some cases, can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "intend", "estimate", "predict", "target", "potential", "continue" or other similar expressions concerning matters that are not historical facts. These statements are based on certain factors and assumptions including expected growth, results of operations, performance and business prospects and opportunities. While the Company considers these assumptions to be reasonable based on information currently available to us, they may prove to be incorrect. Forward-looking information is also subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what we currently expect. These factors include risks associated with the oil and gas industry (including operational risks in exploration and development and uncertainties of estimates oil and gas potential properties), the risk of commodity price and foreign exchange rate fluctuations and the ability of Xcite Energy to secure financing. Additional information identifying risks and uncertainties are contained in the Company's annual information form dated June 30, 2008 and in the annual Management's Discussion and Analysis for Xcite Energy dated March 26, 2009 filed with the Canadian securities regulatory authorities and available at www.sedar.com. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.
Related Shares:
Xcite Energy