Nextraction Energy Corp. Retains Sequoia Partners Inc. for Investor Relations ServicesJuly 9, 2010
Vancouver, BC - Nextraction Energy Corporation (TSX-V: NE) (the "Nextraction") announced today that it has retained Sequoia Partners Inc., ("Sequoia"), to provide investor relations and consulting services
Sequoia will receive a monthly retainer of $3,750. The Company will also issue, as compensation to Sequoia, an option to purchase 200,000 common shares pursuant to the company's stock option plan and vesting over a period of nine months. The options are exercisable at the closing price of the Corporation's common shares on the day prior to the grant. The options and the contract are subject to regulatory approval.
"Nextraction is at an important stage in our development as we recently have established initial production flow rates and gas sales in both the Pinedale Anticline (Wyoming) and the Appalachian Basin (Kentucky and Tennessee) projects. We are now ready to tell our developing story to a broader audience and Sequoia is well experienced in providing the support necessary for marketing companies at our growth stage. " said Mark S. Dolar, President of Nextraction.
The Company has terminated its previous Investor Relations agreement with Ascenta Capital Partners Inc.
About Sequoia Partners Inc.
The principals of Sequoia Partners, Don Graham and James Beesley, have been involved with public companies listed on the TSX and TSX Venture Exchange for several years whether acting as directors or management of such issuers, or assisting such companies with investor relations and corporate communications. Mr. Graham and Mr. Beesley have been involved with companies ranging from resource issuers through to biotech/industrial issuers.
About Nextraction Energy Corp.
Nextraction Energy Corp. is a Canadian junior oil and gas company engaged in the exploration and development of oil and gas resources in North America. Nextraction targets projects with known reserves that provide lower risk, high return development opportunities in both conventional and unconventional resource projects, where our technical expertise can be applied to enhance production. The Company is headquartered in Vancouver, BC, Canada, and is currently developing a tight-sands gas play on the Pinedale Anticline in the Green River Basin region of western Wyoming, and a 70,130 acre Chattanooga shale gas resource play in Eastern Kentucky and Tennessee.
On behalf of the Board of Nextraction Energy Corp.
"Mark S. Dolar"
President and CEO
FORWARD LOOKING STATEMENTS DISCLAIMER
Certain statements in this document may contain "forward-looking statements" or "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking statements or information include, without limitation, forecasts, estimates, expectations and objectives for future operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. The Company does not assume the obligation to update any forward-looking statement, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulations Services Provider have reviewed this release and does not accept responsibility for the adequacy or accuracy of this release.
For further information on behalf of Nextraction Energy Corp, please contact:
Karmen Jade Birss
Manager, Corporate Development
Nextraction Energy Corp.
Toll Free: 1-888-630-0370