VANCOUVER, British Columbia, March 25, 2022 (GLOBE NEWSWIRE) --
Cornish Metals Inc. (TSX-V/AIM: CUSN) (“Cornish Metals” or the “Company”), a mineral exploration and development company focused on tin / copper projects in Cornwall, United Kingdom, provides the following update.
As previously announced in the Company’s news release dated September 7, 2016, the Company initially entered into an agreement with Blytheweigh (now BlytheRay), a London (UK) based media relations company, in respect of the provision of certain advice and guidance in communicating with all stakeholders related to the South Crofty tin project. The Company has since entered into a new agreement dated September 4, 2020, with BlytheRay (the “New BlytheRay Agreement”), which replaces and supersedes all prior agreements of the Company with BlytheRay. Under the New BlytheRay Agreement, BlytheRay provides the Company with certain public relations services, including services in respect of communications with media and community engagement, the form of announcements from a communications perspective, and the release of such announcements via a Regulatory Information Service in the UK.
Pursuant to the New BlytheRay Agreement, prior to admission of the Common Shares on AIM on February 16, 2021, a fee of £2,000 per month was payable on a retainer basis by the Company to BlytheRay. Upon such admission on February 16, 2021, the Company paid an additional £5,000 fee to BlytheRay, and the monthly fees payable by the Company to BlytheRay on a retainer basis increased from £2,000 to £3,000 per month. The term of the New BlytheRay Agreement commenced on September 1, 2020, and continues for an indefinite term, subject to either party’s ability to terminate at any time upon three months’ written notice.
BlytheRay is at arm’s length from the Company and does not have any direct or indirect interest in the Company or its securities, nor does BlytheRay have a right to acquire any such interest. No incentive stock options have been granted to BlytheRay. Information on BlytheRay can be found at https://www.blytheray.com/.
ON BEHALF OF THE BOARD OF DIRECTORS
“Richard D. Williams”
Richard D. Williams, P.Geo
Neither the 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.
For additional information please contact: Irene Dorsman at (604) 200 6664 or by e-mail at firstname.lastname@example.org