TORONTO, ONTARIO--(Marketwire - Feb. 1, 2012) - Lonestar West Inc. (TSX VENTURE:LSI) (the "Company" or "Lonestar") is pleased to announce it has retained the Calgary-based firm, The Howard Group Inc. (the "Howard Group") as its investor relations and financial services advisor, pursuant to an agreement (the "Agreement") entered into between the parties effective February 1, 2012.
Since 1988, the Howard Group has provided comprehensive investor and financial relations, business development solutions, in-depth strategic planning and financing services to public companies. The Howard Group does not have any interest or right to acquire an interest in Lonestar at this time.
Pursuant to the Agreement, the Howard Group has been retained by the Company on a month to month basis, and will be responsible for various investor relations consulting services for and on behalf of the Company. The Howard Group will receive remuneration in the amount of $5,000 per month and will be reimbursed for all approved expenses.
In addition, and subject to TSX Venture Exchange approval, the Company has agreed to grant stock options (the "Options") to the Howard Group enabling it to acquire 150,000 common shares in the capital of the Company at an exercise price of $1.05. The Options shall vest as to one quarter every three months from the date of grant and expire three years from the date of grant.
About Lonestar West
The Company currently operates a fleet of HVAC and vacuum trucks throughout Western Canada from its base in Sylvan Lake, Alberta. It is focussed on profitably growing its HVAC services to become a major national competitor in the market area.
For more information please visit the Lonestar West website at www.lonestarwest.com.
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.