Simba Energy Inc. (tsx.v:SMB) (the "Company" or "Simba") is pleased to announce the engagement of Ethos Consulting Inc. ("Ethos") to perform corporate advisory and investor relations services for the Company, subject to TSX Venture Exchange approval. The contract will be effective November 8, 2010 and active for a period of twelve months.
Ethos has been retained to assist the Company with a strategic mix of corporate communications and investors relations services in order to increase investor awareness and introduce the Company to private investors, analysts, brokers, fund managers, trade media, newsletter writers and other key influencers in the global oil and gas industry and international investment community.
Under the terms of their agreement, Simba will pay Ethos $7,500 per month and grant options to purchase up to 500,000 shares at a price of $0.10 per share for two years. In accordance with exchange regulation, these options will vest over a period of 12 months.
Robert Dinning, President, and Chief Executive Officer of Simba remarks; "Senior Management is keen to have a partner in an investor relations capacity whom has demonstrated a strong understanding of our sector and the support we will require executing our stated strategy. We have been very active with efforts to convert our Onshore Hydrocarbon Reconnaissance License in coastal Liberia into a Production Sharing Agreement so we are looking forward to growing global awareness of Simba as we continue our work to acquire and develop strategic oil and gas assets in Africa with help from the Ethos team."