TORONTO, ONTARIO--(Marketwire - Feb. 27, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Castle Resources Inc. ("Castle" or the "Company") (TSX VENTURE:CRI) is pleased to announce that it has retained Michael Baybak and Company Inc. (the "Consultant") as a consultant to provide financial relations services, media relations services and public market development services to the Company. The Consultant will create market awareness among the investment community through its network of institutions, brokers, analysts and other financial professionals. The Clearwater, Florida-based company brings extensive knowledge of capital markets, specializing in emerging resource companies.
Castle will pay the Consultant a monthly fee of US$8,000 for the one-year term of the consulting agreement between the Company and the Consultant, which may be extended upon mutual agreement of the parties. In addition, the Company will pay the Consultant an additional US$8,000 at the beginning of the first month of the term of the consulting agreement. Castle has also agreed to issue to the Consultant stock options (the "Options") to acquire 300,000 common shares (the "Shares") of the Company, which Options are to be granted at such time as the Company's stock option plan is re-adopted and approved by the shareholders of the Company. The exercise price of the Options shall be determined by the board of directors of the Company on the date of grant.
The Consultant currently owns no Shares or any right or intent to acquire such an interest in Castle. The Consultant appointment as an investor relations consultant of Castle remains subject to regulatory acceptance of applicable filings with the TSX Venture Exchange.
About Castle Resources
Castle is a Toronto-based junior mineral development company focusing on high-quality, advanced projects. Management's goal is to continue the redevelopment of the 100% owned past producing Granduc Copper Project and begin new exploration activities.
For more information please visit Castle's website at www.castleresources.com.