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| | Thu Oct 22, 2009
Icon Announces Investor Relations Contract and Granting of Options to Consultants
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| | Icon Industries Limited (the "Company"or "Icon", TSX Venture Exchange - ICN) announces, subject to regulatory approval, the granting of 1,200,000 stock options to various consultants to the Company exercisable at $0.22 for a period of 5 years, expiring October 22, 2014.
The Company is pleased to announce that it has engaged First Canadian Capital Corp. ("First Canadian") to provide investor relations and communications services. The Company selected First Canadian as it is an experienced arms length company with the capability of increasing Icon's exposure to institutional and retail investors. The agreement with First Canadian is effective October 22, 2009, and is subject to the approval of the TSX Venture Exchange. The agreement is for an initial term of 12 months with a three month performance review period after which time either party may terminate on 30 days notice.
In consideration for its services, First Canadian will be paid $5,000 per month during the term of the agreement plus out-of-pocket expenses, which amounts will be paid from general working capital. In addition subject to the approval of the TSX Venture Exchange and included in the 1,200,000 options referred to in the first paragraph of this news release, Icon has granted First Canadian an option to acquire 400,000 common shares at a price of $0.22 per share subject to vesting requirements. First Canadian advises that it does not directly or indirectly hold any shares of Icon and may acquire or dispose of securities of Icon in the future.
On Behalf of the Board of Directors of Icon Industries Ltd.
"T. Barry Coughlan"
T. Barry Coughlan, Chairman & CEO
For more information please contact:
T. Barry Coughlan
Chairman & CEO
Tel: (604) 685-8666
Email: barryc@talcap.com
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, Icon does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires Icon to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information. Neither TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release. |
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