Driven Retains Investor Relations Firm, Closes $525,000 Private Placement
02 Agosto 2011 - 10:31AM
Marketwired
Driven Capital Corp. (TSX VENTURE: DVV) ("Driven" or the "Company")
is pleased to announce that it has entered into a Consulting
Agreement effective August 1, 2011 with Florida-based National
Media Associates ("NMA") to conduct investor relations and media
awareness services for the Company. Headed by Mr. George Duggan,
NMA is an established investor and media-relations specialist in
the resource and gold exploration sectors.
Driven will pay NMA a monthly fee of USD$8,000 including taxes
for the one-year term of the agreement, which is cancelable at the
Company's option upon thirty days' written notice after the first
six months. Pursuant to the agreement, Driven will also grant
100,000 incentive stock options to principals of NMA for a period
of one year from the date of granting, with one quarter of such
options vesting immediately, then one-quarter every ensuing
three-month period. The options will be exercisable at the market
price on the date of granting. Further options may be granted to
NMA and/or its principals at the Company's discretion, in
accordance with its Stock Option Plan. The agreement is subject to
the approval of the TSX Venture Exchange.
Driven also reports that today, it closed the non-brokered
private placement referenced in the Company's news release dated
July 15, 2011, having sold 3,500,000 Units for gross proceeds of
$525,000. The securities issued by the Company pursuant to the
offering are subject to a four-month hold period from the closing
date, as prescribed by the TSX Venture Exchange and applicable
securities laws. Finder's fees of $19,757.51 representing a seven
percent cash commission were paid, and 131,717 finder's warrants
representing seven percent of the number of securities sold by
finders were issued in connection with the private placement. Each
non-transferrable finder's warrant entitles its holder to acquire
one common share of the Company at a price of $0.15 per share for
two years following the closing date of the private placement.
Driven is a publicly traded exploration company focused on the
discovery of high-value precious metals deposits in North America.
Please visit our web site at www.DrivenCapital.ca.
On Behalf of the Board of Directors of Driven Capital Corp.
Toma Sojonky, President & CEO
Cautionary Statement Regarding Forward-Looking Information: All
statements, trend analysis and other information contained in this
press release relative to markets about anticipated future events
or results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. Forward-looking statements are subject to
business and economic risks and uncertainties and other factors
that could cause actual results of operations to differ materially
from those contained in the forward-looking statements.
Forward-looking statements are based on estimates and opinions of
management at the date the statements are made. The Company does
not undertake any obligation to update forward-looking statements
even if circumstances or management's estimates or opinions should
change. Investors should not place undue reliance on
forward-looking statements.
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.
Contacts: Driven Capital Corp. Toma Sojonky President & CEO
(604) 569-0799 www.DrivenCapital.ca
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