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In consideration for the services, the Company will pay Fryban $4,000 per month, plus G.S.T. during the term of the agreement plus pre-approved out-of-pocket expenses, which amounts will be paid from general working capital. The Company has, subject to regulatory approval, granted Fryban stock options entitling Fryban to purchase 300,000 common shares of the Company at a price of $0.20 per share for a term of two years, of which 75,000 options have vested on the date of the agreement engaging Fryban and 37,500 options will vest every 3 months from the date of the agreement. Except for the stock options, Fryban has advised the Company that it does not currently hold any other interests in or securities of the Company but may acquire securities of the Company in the future.
On behalf of the Directors of IMPACT Minerals International Inc.
"Frederick W. Davidson"
President
For further information please contact:
Fred Davidson - President or
Darrell Rader - Corporate Development
The TSX Venture Exchange has neither approved nor disapproved this news release.
