DALLAS, TEXAS -- (Marketwire) -- 10/13/11 -- EnerGulf Resources Inc. ("the Company") (TSX VENTURE: ENG)(FRANKFURT: EKS) is pleased to advise that it has appointed the Buick Group Corp. ("Buick Group") as an investor relations consultant.
The Buick Group is a Toronto based firm that specializes in assisting emerging growth companies with public relations, capital markets experience, brand building and brand awareness, and developing and initiating strategies to strengthen relations and communications between companies or individuals associated with the firm. The Buick Group will assist the Company in gaining increased exposure to investors through the dissemination of corporate information to a network of online venues, brokerage firms, financial institutions and private investors.
The arrangement with Buick Group has an indefinite term which may be terminated by either party at the end of any three month period. The Buick Group will be paid a monthly fee of $7,500 for provision of its services and has been granted incentive stock options exercisable to purchase up to 600,000 shares for $0.68 per share until the earlier of the last day of the term and the fifth anniversary of the first day of the term, The options vested as to 25% on the date of grant and will vest as to an additional 12.5% each three months thereafter. The options are subject to acceptance by the TSX Venture Exchange and the terms and conditions of the Company's stock option plan.
The Buick Group is owned by Mr. Jonathan Buick. It does not currently have any interest, directly or indirectly, in the Company or its securities, but it may choose to acquire shares in the Company in the future. The Buick Group does not intend to undertake any market making activities.
EnerGulf Resources Inc. is a publicly traded international oil and gas exploration company focused on maximizing shareholder value by targeting high impact opportunities in the world's most prospective hydrocarbon regions. Further information on EnerGulf Resources Inc. can be found on the company's website www.energulf.com or www.sedar.com.
On behalf of the Board of Directors,
EnerGulf Resources Inc.
Jeffrey L. Greenblum, Chairman & CEO
Some statements in this news release contain forward-looking information. These statements include, but are not limited to, statements with respect to future expenditures, financing and prospective resource estimates. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, among others, the ability to complete contemplated private placements, the timing and amount of expenditures, business conditions, changes in business strategy, regulatory requirements, competition and economic conditions. The Company does not assume the obligation to update any forward-looking statement.
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:
The Buick Group
Jonathan Buick
416-915-0915
jbuick@buickgroup.com
www.energulf.com
