LA PRAIRIE, QUEBEC--(Marketwire - April 3, 2012) - Vanstar Mining Resources Inc. (TSX VENTURE:VSR) (the "Company") has retained Momentum Public Relations Inc. ("Momentum") to provide investor relations services to the Company including assisting with dissemination of information about the company and other activities.
Momentum is a Montreal-based, comprehensive provider of investor relations services, specializing in the resource industry. Momentum will assist Vanstar in increasing public awareness of the Company by managing the Company's corporate communications and marketing activities, and fostering dialogue with shareholders, finance professionals, analysts and media contacts.
Momentum and Maxence Gagné-Godbout, its principal, are at arm's length to Vanstar as at the date hereof. The Company has been informed that neither Momentum nor Mr. Gagné-Godbout currently own any securities of Vanstar.
The agreement with Momentum is for an initial one-year term commencing on April 2, 2012. The Company agreed that Momentum will be paid a monthly fee of $4,500, payable on the first business day of each of the months during the term of the agreement and will be granted 100,000 stock options to purchase common shares of the Company which will vest 25 per cent per quarter and will be exercisable until the earlier of 5 years from the date of grant and 30 days following termination of services under the agreement. The stock options shall be exercisable at a price of $0.20 per share. The agreement with Momentum is subject to approval by the TSX Venture Exchange.
About Vanstar Mining Inc.
Vanstar is a Canadian junior exploration company, quoted for trading on tier 2 of the TSX Venture Exchange under the symbol VSR.