Vancouver, B.C. April 18, 2017 - Search Minerals Inc. (TSXV: SMY) (“Search” or the “Company”) is pleased to announce that it has contracted with InvestorIntel Corp (“InvestorIntel”) of Toronto, Ontario for marketing, consulting and investor relations services for a one year term. Under the terms of the contract, these services will begin immediately and InvestorIntel will receive $ 15,000 for the subscription service and a monthly fee of $ 3,750.00 for one year. Also, InvestorIntel will be entitled to receive 500,000 options at $ 0.10, which vest over the 12-month contract period, in accordance with TSX Venture policies.
Greg Andrews, President and Chief Executive Officer of the Company, states, “Search has worked with InvestorIntel since 2014 and is pleased to now add their IR Premium Service to the existing relationship. InvestorIntel has followed the rare earth industry since 2009 and has a very strong network and understanding of our business. The timing for engaging InvestorIntel is excellent as Search continues to advance previous and new discussions regarding separation options and funds a Deep Fox drill program for 2017.”
Tracy Weslosky, President of InvestorIntel states, “In 2009, we had the fortunate experience of being at the forefront of the international rare earth market through our team of analysts and industry experts when the market exploded from just under a dozen public companies to nearly 700 at the height of this market sector in 2012. Today, the market has recreated the 2008 formula whereby only a handful of companies are addressing the dire need for sources of rare earths outside of China to deal with issues surrounding sustainability and technology production. With a wide range of uses from magnetic materials to electric vehicles, the demand for rare earths will ultimately force a market turnaround. It is with great pleasure that today we announce the representation of Search Minerals Inc. as investor relations clients, as they are unquestionably leading the race for production in North America.”
InvestorIntel does not own any shares of Search Minerals Inc.
Search also announces that it has granted a total of 600,000 stock options to consultants of the Company. All of the stock options are exercisable for a period of 2 years at a price of $0.10. The options have been granted pursuant to the Company’s Stock Option Plan
About Search Minerals Inc.
Led by a proven management team and board of directors, Search is focused on finding and developing resources within the emerging Port Hope Simpson Critical Rare Earth Element (“CREE”) District of South East Labrador (the “District”). The Company controls a belt 70 km long and 8 km wide including its 100% interest in the FOXTROT Project which is road accessible and at tidewater. Exploration efforts have advanced “Deep Fox” and “Fox Meadow” as significant new CREE prospects very similar and in close proximity to the original FOXTROT discovery.
While the Company has identified more than 20 other prospects in the District, its primary objective remains development of FOXTROT by confirming proprietary processing technology at the pilot plant level (completed in February 2017) and delineation of prospects that will ensure competitive-low cost production beyond the 14-year mine life contemplated in the April 2016 Preliminary Economic Assessment of FOXTROT. The FOXTROT Project has a low capital cost to bring the initial project into production ($152 M), a short payback period and is scalable due to Search’s proprietary processing technology.
The Preliminary Economic assessment is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves, and there is no certainty that the preliminary economic assessment will be realized. The preliminary economic assessment includes the results of an economic analysis of mineral resources. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
All material information on the Company may be found on its website at www.searchminerals.ca and on SEDAR at www.sedar.com
About neo-CREOs ( Adamas Intelligence - December 2016)
We consider neodymium, praseodymium, and dysprosium to be neo-CREOs and they are vital to NdFeB magnets used widely in renewable power generation, electric mobility, and energy-efficient technologies. We consider terbium to be a neo-CREO because upon experiencing shortages of dysprosium, consumers in the magnet industry will rapidly consume available terbium supplies in its place for applications involving renewable power generation, electric mobility and energy efficient technologies. Lanthanum is considered a neo-CREO because it is widely used in catalytic converters and rechargeable batteries, and will be increasingly used as a thermal stabilizer by producers of poly-vinyl chloride (PVC) to minimize lead consumption and improve the energy efficiency of PVC and other processing equipment.
About the InvestorIntel Corp. Premium Investor Relations Service Solution:
InvestorIntel Corp., a Toronto-based media and communications firm, is pleased to announce a new premium Investor Relations (IR) service solution being offered to enhance existing InvestorIntel.com members and social media clients. The InvestorIntel.com membership, an annual advertising service allows members access to a global investment audience through a leading online source of investor information InvestorIntel.com for an annual fee of CAD$15,000. Additionally, InvestorIntel Corp. provides an annual social media service for CAD$18,000 that focuses on LinkedIn profiles, Twitter feeds and YouTube channel content. The InvestorIntel Corp. Premium Investor Relations (IR) Service Solution is an add-on service for clients that are both InvestorIntel.com members and social media clients, which provides a wide range of IR services for $2,250 per month plus options for a 12-month commitment. These IR services include but are not limited to the coordination of presentations for corporate introduction to select N. American broker and institutional networks; Media relations for all financial media outlets; Ongoing inbound/outbound correspondence and email communications, and communications support for existing shareholder base; Assistance in IR and Media packages including content development; and News releases, Quarterly Webcasts: Scripted as needed. For more information, email info@investorintel.com or contact us at 647 345 5486.
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.
For further information, please contact:
Greg Andrews
President and CEO
Tel: 604 998-3432
E-mail: info@searchminerals.ca
Paul Snow
Investor Relations
Tel: 709 753-0794
E-mail: psnow@pilotcom.ca
Cautionary Statement Regarding “Forward-Looking” Information.
This news release includes certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable Canadian and United States securities legislation including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operating or financial performance of the Company, are forward-looking statements.
Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “forecasts”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could” or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, forecasts of supplies of elements including Neodymium, Praseodymium, Dysprosium and Terbium; the Company’s plans to endeavour to meet high standards in its technical reporting; the low costs of production at FOXTROT; future consumption rates of consumers in the magnet industry; and future increases in the use of Lanthanum as a thermal stabilizer by producers of poly-vinyl chloride. Actual future results may differ materially. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the respective parties, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, general business, economic and social uncertainties; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; and those additional risks set out in Search’s public documents filed on SEDAR at www.sedar.com. Although Search believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, Search disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.