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Smartcool Retains Innovative Research Associates Inc. for Investor Relations Advisory Services

^{Published on 2011-06-16 13:35:54 - Market Wire}
 

VANCOUVER, June 16, 2011 /CNW/ - [ Smartcool Systems Inc. ] (TSXV: SSC) is pleased to announce that it has entered into an agreement (the "Agreement") with Innovative Research Associates, Inc. (IRA) for investor relations and public capital markets advisory.  IRA is a wholly owned subsidiary of Murdock Capital Partners Corp. of New York City, with whom Smartcool entered into an agreement in May of this year for corporate and other advisory services. As such, IRA will assume all of the investor relations advisory and consulting responsibilities, while Murdock Capital Partners will continue to provide investment banking and other corporate advisory services directly to Smartcool.

The range of activities that IRA shall undertake in collaboration with Smartcool include coordinating investor meetings, developing and producing corporate presentations and generally facilitate and enhance the company's relations and communications with its shareholders and the investing community.

The term of the agreement is 12 months from the effective date of June 1, 2011 until June 30, 2012 with the possible extension of the Agreement on a monthly basis thereafter.  The Agreement may be terminated by either party on 30 days written notice. IRA shall be paid a fee of US$8,500 per month during the term of the Agreement commencing 30 days after the date of the Agreement.  Additionally, 480,000 incentive stock options will be granted at an exercise price of CAD$0.40 per share, which options shall vest and be exercisable at the rate of 40,000 options per month during the term of the Agreement.  The anticipated total cost of this agreement to Smartcool for the 12 months is approximately US$102,000. Smartcool expects to pay the costs of the Agreement from funds on hand.

The agreement with IRA is subject to the approval of the TSX Venture Exchange.

Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

About Smartcool
Smartcool Systems Inc. (TSX-V: SSC) provides cutting edge energy efficient and energy cost reduction solutions for businesses around the world.  The ESM™ and ECO³™ are Smartcool's unique retrofit technologies that reduce the energy consumption of compressors in air conditioning, refrigeration and heat pump systems, with no risk to existing equipment performance.  [ www.smartcool.net ]

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