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Gale
Force
Petroleum Inc. (CDNX:GFP.V) ("Gale
Force"
or the "Company") today announced that it has engaged
Investor Cubed Inc. ("Investor Cubed") to provide investor
relations and shareholder communications services (the "Engagement").
In
connection with the Engagement, Investor Cubed has been awarded a consulting
contract paying $5,000 per month. The
total costs of the Engagement after three months would be $15,000;
after twelve months the total cost would be $60,000.
In addition, Investor Cubed has been granted 200,000 stock options with an
exercise price of $0.33. The options
shall vest quarterly over a period of one year and are subject to the
provisions of Gale Force's Stock Option Plan. Investor Cubed is a
privately owned Canadian corporation, at arm's length from the Company. The
Engagement is subject to TSX Venture Exchange approval.
The
Company also announced that it has amended its stock option plan, to permit
the Company to issue a maximum 2,100,000 options, which is less than 10% of
the shares of the Company's common shares currently issued and
outstanding. The Company then issued 200,000 options with an exercise
price of $0.33 to directors and
consultants, vesting immediately, subject to the provisions of the Company's
stock option plan. The stock option plan amendment and stock option issuance
are subject to TSX Venture Exchange approval.
ABOUT
INVESTOR CUBED INC.- www.Investor3.ca
Investor Cubed Inc. provides specializes in investor relations and
business consulting services to a select group of leading Canadian small cap
companies. Investor Cubed's extensive industry
experience has enabled it to develop a national network of financial
professionals that is vital to its business model, and views the small cap
companies it represents as "partners" in creating value for their
shareholders and for the financial professionals. Investor Cubed is also a
partner and co-manager of www.SmallCapPower.com (SCP).
SCP is Canada's first website dedicated to tracking stocks with market
caps from $5 to $500 million.
It has comprehensive investment materials and dynamic functionality that
joins investors and financial industry professionals to discover and
communicate with small cap companies.
ABOUT
GALE FORCE PETROLEUM INC. − www.GaleForcePetroleum.com
Gale Force Petroleum is a public
corporation focused on acquiring and exploiting undervalued oil and gas
reserves in mature basins, bringing operational expertise and capital to
lower-risk, development-type projects. The Company currently owns producing oil
and gas properties in Texas, Oklahoma and Tennessee.
Forward
looking statements:
Statements included herein, including those that express management's
expectations or estimates of our future performance, constitute
"forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements are based on
assumptions and estimates that are subject to various risks and
uncertainties, including the risks disclosed under the heading "Risks
and Uncertainties" in the Company's periodic filings on SEDAR, for
example, in its Management Discussion and Analysis for the year ended June
30, 2010. Such information contained herein represents
management's best judgment as of the date hereof based on information
currently available. The Company does not assume the obligation to update any
forward-looking statements, except as required under applicable law.
"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."
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