Prophecy Engages Investor Relations Firm and Grants Options
Vancouver, British Columbia, April 8, 2015 – Prophecy Development Corp. (“Prophecy” or the “Company”) (TSX:PCY, OTCQX:PRPCF, Frankfurt:1P2) is pleased to announce that it has engaged Cor Capital Inc. (“Cor Capital”) to provide investor relations and shareholder communications services for the Company effective April 1, 2015.
In addition to responding to all investor and shareholder inquiries, Cor Capital will focus on introducing Prophecy to institutional investors, large asset money managers, investment advisors and high-net worth individuals including arranging conference calls, road shows and other investor presentations. Other duties will include arranging follow-up meetings and maintaining an on-going dialogue with its client base on behalf of the Company. Cor Capital will also provide Prophecy with advice with respect to capital structure, financing, mergers and capital raising opportunities. In connection with their engagement, Cor Capital has been awarded a consulting contract paying $7,500 per month for a term of twelve months and 1,500,000 incentive stock options (the “Cor Options”).
The Company also announces that pursuant to the terms of the Company’s Share-Based Compensation Plan which was approved by shareholders at the Company’s last annual general meeting of shareholders held on June 19, 2014 it has granted in aggregate (including the Cor Options), 10,000,000 incentive stock options (the “Options”) to various directors, officers, employees and consultants of the Company. The Options are exercisable at a price of $0.05 per common share for a term of five years expiring on April 7, 2020 and vest at 12.5% per quarter for the first two years following the date of grant. As part of its continuous review, the Company cancelled over the past year, a total of 2,230,000 stock options with various exercise prices.
About Prophecy
Prophecy Development Corp. is a Canadian public company listed on the Toronto Stock Exchange that is engaged in developing mining and energy projects in Mongolia, Bolivia and Canada. Further information on Prophecy can be found at www.prophecydev.com.
About Cor Capital
Corp Capital Inc. is focused on providing capital markets counsel, experience and exposure for select high quality companies. Cor Capital’s value proposition to maximize shareholder equity includes assistance in capital raising, private placements, market-making and liquidity services, mergers and acquisitions, management buy-outs, and capital markets transactional services. Cor Capital takes a detailed integrated approach when working with their portfolio companies and focuses on communicating in a clear and efficient manner with senior management, board of directors and technical advisors.
PROPHECY DEVELOPMENT CORP.
ON BEHALF OF THE BOARD
“JOHN LEE”
Executive Chairman
For more information about Prophecy, please contact Investor Relations:
+1.604.563.0699
+1.888.513.6286
ir@prophecydev.com
www.prophecydev.com
Neither the Toronto Stock Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Toronto Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release, including statements which may contain words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, and statements related to matters which are not historical facts, are forward-looking information within the meaning of applicable securities laws. Such forward-looking statements, which reflect management’s expectations regarding Prophecy’s future growth, results of operations, performance, business prospects and opportunities, are based on certain factors and assumptions and involve known and unknown risks and uncertainties which may cause the actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements.
These factors should be considered carefully, and readers should not place undue reliance on the Prophecy’s forward-looking statements. Prophecy believes that the expectations reflected in the forward-looking statements contained in this news release and the documents incorporated by reference herein are reasonable, but no assurance can be given that these expectations will prove to be correct. In addition, although Prophecy has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Prophecy undertakes no obligation to release publicly any future revisions to forward-looking statements to reflect events or circumstances after the date of this news or to reflect the occurrence of unanticipated events, except as expressly required by law.
