/NOT FOR DISTRIBUTION TO THE UNITED
STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/
TORONTO,
March 11, 2014 /CNW/ - Parkside
Resources Corporation (TSX-V: PKS) ("Parkside" or, the
"Company") is pleased to announce that it has engaged IRonside
Investor Relations Inc. ("IRonsideIR") to provide strategic
investor relations and financial communication services to the
Company, effective March 1, 2014.
Under the terms of the agreement Parkside Resources Corporation
will pay IRonsideIR a monthly fee of $2,500 for a term of six months, extendable for a
further six months at $5,000 per
month. In addition, subject to the approval of the TSX Venture
Exchange (the "Exchange"), IRonsideIR has been granted options to
purchase 100,000 shares of Parkside Resources Corporation at a
price of five cents ($0.05) per share, valid for three years, and
vesting quarterly over one year. The options will be governed by
the provisions of Parkside's stock
option plan and the policies of the Exchange and applicable
securities laws. IRonsideIR and its principals act at arm's length
to Parkside and currently have no
direct or indirect interest in the securities of Parkside, or any right or intent to acquire
such an interest, except as disclosed within. The agreement and
grant of stock options are subject to the approval of the
Exchange.
Robin Sundstrom,
President of IRonside Investor Relations Inc., comments: "The team
at IRonsideIR is looking forward to working with the management of
Parkside Resources to communicate to its shareholders and the
public markets the exciting potential of its 4,352 hectare Forester
Lake Gold Project in Northwestern
Ontario, 35 kms southeast of Goldcorp's producing gold mine
at Musslewhite."
David Mason,
President and CEO of Parkside Resources, comments: "I have
successfully worked with Robin
Sundstrom in the past with Augen
Gold Corp. and look forward to having IRonsideIR assist
Parkside in increasing the
awareness of the Company and its Forester Lake Gold Property".
Further to our news releases dated October 24, 2013 and October 29, 2013, the Company also announces that
it has received approval from the Exchange for an extension to
complete the non-brokered private placement financing announced on
October 24, 2013. The terms of the
financing were subsequently amended and disclosed in our news
release dated October 29, 2013 and
are comprised of 15,000,000 Non-Flow-Through Units ("Unit") at a
price of $0.05 per Unit; and
16,666,667 Flow-Through Units ("FT Unit") at a price of
$0.06 per FT Unit for gross proceeds
of up to $1,750,000 (the
"Offering"). Each Unit will consist of one common share and
one share purchase warrant (a "Warrant"), entitling the holder to
purchase one common share at $0.10
per share within 60 months from the date of issue of the
Warrant. Each FT Unit will consist of one flow-through common
share and one Warrant entitling the holder to purchase one common
share at $0.12 per share within 60
months from the date of issue of the Warrant. Both the Unit and FT
Unit Warrants are subject to an acceleration clause, whereby if the
price of the common shares of Parkside closes at $0.15, or greater, for a period of 20 consecutive
trading days, then Parkside shall
have the right to notify the warrant holders that the warrants
shall expire if they are not exercised on or before the date that
is 30 days after such notice has been issued. The proceeds from the
Flow-Through Private Placement will be used to fund exploration
expenses for a proposed 2,500 metre 2014 drill program on the
Forester Lake Gold Property. The proceeds from the Non-Flow-Through
Unit Private Placement will be used for general corporate and
working capital purposes. Finder's fees may be payable in
connection with the Offering, in accordance with the policies of
the Exchange.
As of March 7,
2014 the Company had issued 517,000 FT Units and 300,000
Units in relation to the private placement. 417,000 of the FT Units
and 200,000 of the Units issued are subject to a hold period that
expires on May 1, 2014. 100,000 of
the FT Units and 100,000 of the Units issued are subject to a hold
period that expires on July 5, 2014.
In connection with the issuance of the 417,000 FT Units a cash
finder's fee of $1,751.40 was paid
and 29,190 finder's warrants, with a hold period that expires on
May 1, 2014, were issued. Each
finder's warrant is exercisable to purchase one common share at a
price of $0.06 until December 31, 2018.
About Parkside Resources Corporation
Parkside Resources Corporation is a Canadian
based mineral exploration company dedicated to building shareholder
value through focused exploration, discovery and development of
high quality precious and base metal projects. The Company
has entered into an Option and Joint Venture Agreement with Benton
Resources Inc. to explore the Forester Lake Gold Property, and has
earned a 60% interest in the Property, which is located
approximately 100km north of Pickle Lake,
Ontario and roughly 35km southeast of Goldcorp's
Musselwhite Gold Mine. Incorporated
in 2005, Parkside Resources Corporation is a reporting issuer in
the provinces of British Columbia
and Alberta, the common shares of
which are listed for trading on the TSX Venture Exchange under the
symbol TSX-V: PKS.
About IRonside Investor Relations
Inc.
IRonside Investor Relations is an independent
communications consultancy based in Toronto. It specializes in corporate
communications, shareholder relations, branding, and design.
Focused on good governance and corporate sustainability, IRonsideIR
is dedicated to one task - raising the positive perception of its
clients with their target business and media audiences.
IRonsideIR's senior consultants have a combined 80 years in
corporate communications, and have worked with public and private
companies in many industries, from resources to banking to
technology. All are entrepreneurs in their own right,
contributing to a problem-solving approach that provides client
satisfaction.
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.
Forward Looking and other Cautionary
Information
This release includes certain statements that
may be deemed "forward‐looking statements". All statements in this
release, other than statements of historical facts that address
exploration drilling, exploitation activities and other related
events or developments are forward‐looking statements. Although the
Company believes the expectations expressed in such forward‐looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the forward
looking statements. Factors that could cause actual results to
differ materially from those in forward‐looking statements include
market prices, exploration and exploitation successes, continuity
of mineralization, uncertainties related to the ability to obtain
necessary permits, licenses and title and delays due to third party
opposition, changes in government policies regarding mining and
natural resource exploration and exploitation, continued
availability of capital and financing, and general economic, market
or business conditions. Investors are cautioned that any such
statements are not guarantees of future performance and actual
results or developments may differ materially from those projected
in the forward‐looking statements.
SOURCE Parkside Resources Corporation