SUDBURY, ON, May 2, 2018
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SUDBURY, ON, May 2, 2018 /CNW/ - Transition Metals Corp (TSXV: XTM) ("Transition" or the "Company") a mineral exploration, project generator is pleased to announce that it has retained IR Plus Inc. ("IR Plus") to provide the Company with strategic investor relations and financial communications services subject to Exchange approval. IR Plus is a corporate communications and investor relations firm based out of Rhode Island, USA with a focus on broadening market awareness and engagement with the institutional and retail investment communities. IR Plus will be responsible for marketing and shareholder communications, which includes enhancing the Company's exposure among industry stakeholders and investors across Canada, and the United States.
Mr. Raymond Mullaney, the President and founder of IR Plus, is also the founder and president of Equity Performance Sciences, LLC., a financial technology company, and Capital Preservation Trust, LLC., a State Registered Investment Advisor. Mr. Mullaney has owned registered investment firms in the US since 1982 and has served on boards of several US and Canadian public and private companies.
Under the terms of an investor relations agreement between Transition and IR Plus effective May 1, 2018 (the "Agreement") Transition will pay IR Plus a monthly fee of US$1,500 for select strategic investor relations services on a month to month basis, terminable at any time by either party, upon providing 30 days written notice.
In addition, Raymond Mullaney will retain 175,000 stock options (fully vested) that were granted to him under a previous consulting contract dated May 2, 2017. Each stock option entitles Raymond Mullaney to purchase a common share in the capital of the Company at an exercise price of $0.20 at any time prior to May 2, 2020 subject to the Company's stock option plan. IR Plus has advised the Company that Raymond Mullaney currently owns/controls 1,199,000 common shares of the Company and 50,000 warrants to acquire common shares of the Company. Each Warrant entitles Raymond Mullaney to purchase one additional Common Share prior to November 27, 2019 at a price of $0.20.
About Transition Metals Corp
Transition Metals Corp (XTM - TSX.V) is a Canadian-based, multi-commodity project generator that specializes in converting new exploration ideas into Canadian discoveries. The award-winning team of geoscientists has extensive exploration experience in established, emerging and historic mining camps and actively develops and tests new ideas for discovering mineralization in places that others have not looked, which often allows the Corporation to acquire properties inexpensively. The team is rigorous in its fieldwork and combines traditional techniques with newer ones to help unearth compelling prospects and drill targets. Transition uses the project generator business model to acquire and advance multiple exploration projects simultaneously, thereby maximizing shareholder exposure to discovery and capital gain. Joint venture partners earn an interest in the projects by funding a portion of higher-risk drilling and exploration, allowing Transition to conserve capital and minimize shareholder's equity dilution. The Corporation has an expanding portfolio that currently includes more than 25 gold, copper, nickel and platinum projects primarily in Ontario, Nunavut, British Columbia, Minnesota and Saskatchewan.
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.
SOURCE Transition Metals Corp.
View original content: http://www.newswire.ca/en/releases/archive/May2018/02/c1408.html
Further information is available at www.transitionmetalscorp.com or by contacting: Scott McLean, P.Geo., President and CEO, Transition Metals Corp., Tel: (705) 669-0590Copyright CNW Group 2018