Science & Technology
Science and Technology
Science and Technology
Mon, October 12, 2009
Sun, October 11, 2009
Fri, October 9, 2009 Strait Gold Corporation: Strait Gold Engages T2W Market Liquidity
TORONTO, ONTARIO--(Marketwire - Oct. 9, 2009) - Strait Gold Corporation ("Strait Gold" or the "Company")(TSX VENTURE:SRD) is pleased to announce it has engaged T2W Market Liquidity ("T2W") effective October 9, 2009, to provide market liquidity services for its common shares listed on the TSX Venture Exchange ("TSXV"). The term of the engagement is for a minimum of 12 months and is renewable thereafter on a month-to-month basis.
T2W is a Mississauga-based private company that provides market-liquidity services to listed issuers. Harold Hoff, a principal of T2W, has more than 10 years experience as a professional trader and market maker for a major Canadian bank-owned investment dealer.
Services to be provided include: maintaining a consistent and reasonable bid and offer spread for Strait Gold's common shares; maintaining a reasonable board lot size for the bids and offer; and maintaining reasonable open orders at depth behind the best bid and offer.
T2W is entirely independent of the Company and will at all times be trading as principal for its own account and using its own capital. T2W's experienced trading staff will use their knowledge and discretion in providing these services and no assurance has been made as to any particular effect or result regarding the market for the Company's common shares. T2W has covenanted to operate in accordance with best trading practices at all times.
In consideration of the services to be provided, the Company will pay T2W a monthly flat fee of $2,500 (plus applicable taxes) for a minimum of one year, paid in advance and credited against monthly services. T2W's remuneration is in no way contingent upon the market price or trading volume of the Company's common shares on the TSXV. The engagement is subject to regulatory approval.
About Strait Gold Corporation:
Strait Gold Corporation is a Canadian mineral exploration company active in Peru and listed on the TSX Venture Exchange. It has an option to earn a 100% interesst in the Alicia copper-gold property in Cusco Department approximately 500 km southeast of Lima, the capital of Peru, and holds a 100% interest in both the Letra Rumi South copper-molybdenum property and the Culebrilla gold-silver property, both in Ancash Department approximately 325 km north of Lima. To learn more about Strait Gold, please visit our website at [ www.straitgold.com ].
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.
