VANCOUVER, BC / ACCESSWIRE / June 14, 2019 / Fortem Resources Inc. (TSXV: FTM; OTCQB: FTMR) (the "Company" or "Fortem") announces that it has terminated its previously announced investor relations agreement with Oilprice.com ("Oilprice"), a division of Advanced Media Solutions Limited, effective immediately. The Company also announces that, subject to approval from the TSX Venture Exchange (the "TSXV"), it has agreed to engage AMW Public Relations Inc. ("AMW") and Atlanta Capital Partners, LLC (" Atlanta Capital", and together with AMW, the "Consultants") to provide certain investor relations and consulting services to the Company (collectively, the "Services") pursuant to consulting agreements dated June 13, 2019 between the Company and each of the Consultants.
AMW Public Relations Inc.
AMW is a New York-based public relations firm which offers a comprehensive range of public relations services and techniques to assists clients maximize the benefits of their communications programs. The principal of AMW is Adam Weiss, Chief Executive Officer and founder of AMW.
As consideration for the Services to be provided by AMW, the Company has agreed to pay AMW a sum of $18,000 per month for an initial six-month term (the "Term"), with three months payable ($54,000) upon the commencement of the Term and with $18,000 payable for each subsequent month of the Term. The agreement with AMW and the consideration payable thereunder are subject to approval by the TSXV.
Atlanta Capital Partners, LLC
Atlanta Capital is an Atlanta-based investor relations firm that assists client management teams with broad spectrum consulting services including, but not limited to, corporate strategy, branding, and marketing services. The principal of Atlanta Capital is David Kugelman, President of Atlanta Capital.
The agreement with Atlanta Capital is for a four month term. As consideration for the Services to be provided by for Atlanta Capital, the Company has agreed to pay Atlanta Capital a sum of USD$5,000 upon receipt of TSXV approval of the agreement and USD$3,000 in months two and three of the agreement. The Company has also agreed to grant Atlanta Capital stock options (the "Options") to acquire 10,000 common shares of the Company (each, a "Share") at an exercise price of $2.11 per common share. The Options will vest in accordance with the vesting requirements of the TSXV and are exercisable for a period of twenty-four months. The agreement with Atlanta Capital and the consideration payable thereunder are subject to approval by the TSXV. The Options are subject to the terms and conditions of the Company's stock option plan.
The Company and each of the Consultants maintain an arm's length relationship, and, to the Company's knowledge, neither of the Consultants has any interest, directly or indirectly, in the securities of the Company other than as disclosed in this news release. The Company intends to use general working capital to fund the compensation payable to the Consultants.
About Fortem Resources
Fortem Resources Inc. is a Nevada oil and gas corporation, which holds properties in Alberta and Utah. The Company is engaged in the exploration, development and production of crude oil and natural gas in the Western Canadian Sedimentary Basin and Utah in the United States. The Company is seeking North American and International expansion through an acquisition strategy.
On behalf of the Board of Directors,
FORTEM RESOURCES INC.
Chief Operating Officer
Tel: (403) 241-8912
This news release contains forward‐looking information that involve various risks and uncertainties regarding future events. Such forward‐looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company, such as the appointments of AMW and Atlanta Capital and receipt of TSXV approval regarding such appointments. There are numerous risks and uncertainties that could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward‐looking information, including, but not limited to, the failure to obtain TSXV approval. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward‐looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, the Company does not intend to update these 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.
SOURCE: Fortem Resources Inc.