VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) - Taipan Resources Inc. ("Taipan" or the "Company") (TSX VENTURE:TPN) is pleased to announce that the Company has engaged Kin Communications Inc. ("Kin") to provide investor relations services.
Kin will be paid a monthly fee of $7,500 for an initial term of 12 months and will be granted 500,000 stock options of the Company, exercisable at 50 cents per share. The options will vest at a rate of 25% per quarter from date of the grant and are exercisable for a period of 5 years. The Agreement and the grant of options pursuant to the Agreement are subject to regulatory approval.
Other than the 500,000 options to be granted under the terms of the agreement, the Company has been advised that neither Kin Communications nor its principals beneficially own or control any securities of Taipan.
About Taipan Resources Inc.
Taipan Resources Inc. (TSX VENTURE:TPN) is an independent Africa oil and gas exploration company with interests in 9.7 million gross oil and gas exploration acres (39,588 km2) in Block 1 and Block 2B onshore Kenya. Through its wholly owned subsidiary Lion Petroleum Corp., Taipan currently holds a 100% working interest in Block 2B (1.9 million acres / 7,807 km2) and a 20% working interest in Block 1 (7.8 million acres gross / 31,781 km2) which is operated by Afren plc. Taipan's total mean net unrisked prospective resources on the Blocks are estimated to be 530 million barrels of oil equivalent. Taipan is traded on the TSX Venture Exchange with the symbol TPN.
About Kin Communications Inc.
Kin Communications is one of Canada's leading full-service investor relations firms specialized in the resource industry. Kin has a proven track record of generating interest in their clients, building an active shareholder base, and solidifying communications that differentiates clients from their peers. Having worked with several of the TSX's top performers, Kin will assist Taipan in increasing public awareness by managing the Company's corporate communications, marketing endeavors, and ongoing engagement with shareholders, finance professionals, and media contacts.
The statements contained in this release that are not historical facts are forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially from the targeted results. The Company relies upon litigation protection for forward looking statements.
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.