Vancouver, Canada – February 9, 2016 – Elissa Resources Ltd. (“Elissa”) (TSX-V: ELI) and Spectrum Optix Inc. of Calgary, Canada (“Spectrum” and together with Elissa, the “Companies”) are pleased to announce that Elissa has engaged Primoris Group Inc. (“Primoris”) to provide national and international media relations services and Equity Marketing Strategies (“Equity”) for investor awareness services.
From its office in Toronto, Canada, Primoris will provide a full range of media relations services including the coordination of editorial coverage through print, radio, TV and online media outlets. The editorial coverage will aim to focus on Spectrum’s patent pending Blade Optics™ technology.
“With the anticipated delivery of Spectrum’s first proof-of-concept prototype approaching, I look forward to bringing national and international attention to the patent pending Blade Optics™ technology.” said Paul McKenzie, President and Chief Executive Officer of Elissa.
Equity is based in Vancouver, Canada and has been engaged to provide investor awareness services for Elissa.
Under the leadership of Alexander Smith, a well-known financial commentator reporting on the small-cap space in the North American technology and resource sectors for the past nine years, Equity will coordinate investor awareness programs on behalf of Elissa, primarily targeted towards institutional and retail investors.
Alexander Smith’s writings have been syndicated on many of the top online financial hubs across Canada and the United States. He has been instrumental in implementing online marketing programs for several Canadian publicly traded resource and technology companies throughout his career. With extensive experience in building market awareness for small-cap companies, Mr. Smith has created relationships with media and public relations groups as well as institutional and financial professionals involved in the capital markets.
Primoris has been engaged by Elissa for a one year period at a rate of CDN$3,500 per month, subject to early termination upon 30 days’ written notice by either party. The agreement is renewable on a monthto-month basis following the initial one-year period. In connection with the approval of its change of business, Elissa will grant Primoris options to purchase 125,000 common shares of Elissa at an exercise price of CDN$0.15 per share for a period of five years from the date of issuance.
Equity has been engaged for a one year period at a rate of CDN$6,000 per month. In connection with the approval of its change of business, Elissa will grant to Equity options to purchase 250,000 common shares of Elissa at an exercise price of CDN$0.15 per share for a period of five years from the date of issuance (together with the options granted to Primoris, the “Options”). The Options will vest quarterly over the initial year of the option term and are subject to regulatory approval.
Elissa further advises that, in addition to the aforementioned stock option grants to Primoris and Equity, it will also grant incentive stock options to certain of its directors, officers and consultants entitling them to purchase up to 190,000 common shares of Elissa at a price of CDN$0.15 per share for a period of five years from the date of issuance. Details of the options being granted and the agreements with Primoris and Equity are set forth in the Company’s filing statement dated January 27, 2016 available on SEDAR at www.sedar.com.
On behalf of the Boards of Directors
Elissa Resources Ltd.
Paul McKenzie, President & CEO
Spectrum Optix Inc.
John Daugela, President & CEO
+1 (604) 669 – 7330
Forward Looking Statements
This press release contains forward-looking information and forward-looking statements within the meaning of applicable securities laws, including, but not limited to, statements with respect to expectations concerning the development of the proof of concept prototype and the success of investor and media relations programs relating to Spectrum’s technologies. The reader is cautioned that forward looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other factors which are difficult to predict and that may cause actual results or events to differ materially from those anticipated in such forward looking statements. Forward looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Companies operate and are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations, including, among others, that: they may not have access to financing on acceptable terms or at all in order to exercise the options under the Elissa’s formal agreement with Spectrum and its shareholders; it may not receive all necessary regulatory and shareholder approvals; or the conditions to Elissa’s options to acquire Spectrum shares may not be otherwise satisfied; and other risks inherent with the patent process, transactions of this type and development of new technologies or the business of Spectrum and/or Elissa. Such forward looking statements should therefore be construed in light of such factors. Other than in accordance with its legal or regulatory obligations, Elissa is not under any obligation and it expressly disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.
Completion of Elissa’s change of business (the “COB”) is subject to a number of conditions, including Exchange acceptance and disinterested shareholder approval. The COB cannot close until the required shareholder approval is obtained. There can be no assurance that the COB will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the filing statement to be prepared in connection with the COB, any information released or received with respect to the Change of Business may not be accurate or complete and should not be relied upon. Trading in the securities of Elissa should be considered highly speculative. The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
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 news release.