QUEBEC CITY, QUEBEC, CANADA--(Marketwire - July 6, 2012) - NEMASKA LITHIUM INC. (the "Corporation") (TSX VENTURE:NMX)(OTCQX:NMKEF) is pleased to announce that it has, subject to all required regulatory approvals, including the approval of the TSX Venture Exchange Inc. (the "Exchange"), retained The Howard Group Inc. (the "Howard Group") as an investor relations advisor, pursuant to an agreement (the "Agreement") entered into between the parties effective as of July 1st, 2012.
Since 1988, the Howard Group has provided comprehensive investor and financial relations programs, business development solutions, in-depth strategic planning and financing services to public companies. The Howard Group is associated with the Insight Limited Partnership II, which invests in micro and small cap companies.
Mr. Grant Howard is the President and is the sole shareholder of the Howard Group. Mr. Jeff Walker will be the person who will provide the services to the Corporation. The registered office of the Howard Group is located at 318 - 11th Avenue SE, Suite 350, Calgary, Alberta T2G 0Y2.
Pursuant to the Agreement, the Howard Group has been retained by the Corporation for a period of twelve months, subject to termination by either party following the first nine months. The Howard Group will be responsible for various investor relations consulting services and online retail investor oriented programs for and on behalf of the Corporation. The Howard Group will be paid a fee in the amount of $7,500 per month and will be reimbursed for all approved expenses in the normal course of business.
In addition, and subject to Exchange approval, the Corporation granted, as of July 1st, 2012, stock options (the "Options") to the Howard Group enabling it to acquire 300,000 common shares in the capital of the Corporation at an exercise price of $0.40 per share. The Options shall vest in reason of one quarter every three months from the date of grant with the first quarter vesting on the date of grant and shall expire three years from the date of grant.
There is no prior relationship between the Howard Group and the Corporation, nor is there any direct or indirect interest in the Corporation or its securities or any right or intent to acquire such an interest on the part of the Howard Group, except for the aforementioned Options.
Nemaska is an exploration and development corporation that is currently involved in the development of its Whabouchi lithium deposit located in the James Bay region, Province of Quebec. Nemaska has also developed innovative processes to transform lithium minerals into value added lithium hydroxide and lithium carbonate. Nemaska also owns 100% of the Sirmac lithium project, located at about 125 km south of the Whabouchi deposit. Both projects are easily accessible year round by the Route du Nord from Chibougamau. The Whabouchi lithium deposit is located near the Cree community of Nemaska and the Nemiscau airport. Nemaska is also an important shareholder of Monarques Resources Inc. (TSX VENTURE:MQR).
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of Nemaska to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.Neither 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.