On April 1, Magnum Energy Inc. (TSXV: MEN.V) brought on Steel Rose Communications to provide it with investor relations services, the company said April 9.
Steel Rose was brought on as part of a consulting agreement in which Magnum Energy will pay Steel Rose CA$5,000 per month until Sept. 30, the company said.
Magnum Energy also granted 250,000 stock options that were convertible into common shares at 10 cents each, the company added. They will vest at 25% every three months, Magnum Energy said. This is subject to TSX Venture Exchange approval, the company noted.
Magnum Energy noted that John Bey, the president of Steel Rose, will oversee activities related to the agreement.
Vancouver, British Columbia-based Steel Rose Communications provides investor relations and corporate communications to small- and mid-cap energy and resources companies.
Calgary, Alberta-based Magnum Energy Inc. produces and develops oil and natural gas in southeast-central Alberta.
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