TORONTO, ONTARIO -- (Marketwire) -- 02/18/11 -- Brownstone Energy Inc. (TSX VENTURE: BWN) ('Brownstone' or the 'Company') announces that it has retained, subject to regulatory approval, the services of Contact Financial Corp. ('Contact') to assist in the development and execution of its marketing and investor communications programs to help raise awareness of the company.
Contact is a Vancouver-based strategic marketing and communication firm with experience in creating exposure for resource exploration and development companies to industry stakeholders and investors. Contact's services will include providing advice to Brownstone with respect to corporate development, producing and distributing effective marketing communication tools, and increasing investor awareness.
Contact has been hired for an initial term of three months, renewable on a monthly basis thereafter by mutual agreement. Contact will be paid a monthly fee of $6,000 plus expenses. Brownstone has also granted to Contact 300,000 stock options, exercisable at $0.95 per share. The options will vest quarterly over a period of 18 months and expire at the earlier of 30 days after termination of service, or 2 years from the date of issuance.
Brownstone Energy Inc. is a Canadian-based, energy focused investment company with equity interests and direct interests in oil and gas exploration projects, including working interests in almost 300,000 acres in the Piceance/Uinta Basins of Colorado and Utah; 253,000 acres in Rio Negro, Argentina; interests in several projects in Brazil; a 50% interest in approximately 300,000 hectares in the Quebec Lowlands; a 15% participating interest in several off-shore Israel oil and gas blocks; and is earning interests (14-35%) in 4 Colombian blocks in the Llanos basin. For additional information, please see Brownstone's website: www.brownstoneenergy.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.
Brownstone Energy Inc.
Jonathan Schroeder, P. Geoph.
President and COO
Brownstone Energy Inc.
Vice-President Corporate and Legal Affairs