Shear Wind Inc. has engaged Toronto-based CHF Investor Relations to provide investor relations and market-making services to the company, effective immediately.
Subject to TSX Venture Exchange approval, the services agreement for investor relations and market making is for a term of 12 months, subject to a successful performance review of the first six months of service.
Under the terms of the agreement, CHF will receive C$7,500 per month in fees and reimbursement of expenses. CHF has been granted a total of 750,000 options exercisable in stages of 250,000 at C$0.50, 250,000 at C$0.75 and 250,000 at C$1.50 per share.
The options vest in equal amount at the rate of 25% per quarter beginning on March 15, 2011, and have a 2-year term, expiring on Dec. 15, 2012. Further, upon termination of the contract, CHF will have 30 days to exercise any vested options.
CHF will initiate a market liquidity program (MLP), more commonly referred to as market making, through its Calgary office. Mike Wheatley and Gary MacKenzie, directors of Shear Wind, have agreed to loan capital in the form of 100,000 common shares of Shear Wind each for the purposes of market making.
The MLP will be undertaken by CHF through a registered broker, Mackie Research Corp.
SOURCE: Shear Wind Inc.