CanAlaska Uranium Ltd. is undertaking uranium exploration in twenty 100%-owned and three optioned uranium projects in Canada’s Athabasca Basin, which is known as the “Saudi Arabia of Uranium”. Since September 2004, the company has aggressively acquired one of the largest land positions in the region, comprising over 3,900 square miles.
The company announced today that it has retained CHF Investor Relations (Cavalcanti Hume Funter Inc.), a well-established Canadian investor relations firm. The investor relations services agreement, effective September 1, 2010, is for a term of up to 12 months. It is subject to a satisfactory performance review at the end of six months.
In addition, it is intended that CHF will initiate a market-making program (adding liquidity) in CanAlaska Uranium’s stock. This will be conducted through a registered broker in compliance with the guidelines established by the Toronto Stock Exchange (TSX) Venture Exchange Policy 3.4 and other relevant regulatory policies.
Subject to TSX Venture Exchange approval, CanAlaska will compensate CHF with monthly fees of $7500 and incentive stock options. The company has granted CHF 300,000 options exercisable at 10 cents and 200,000 options exercisable at 15 cents. All of these options are exercisable for two years. According to TSX rules, no more than 25% of the options may vest in any three month period. In the event of CHF’s termination, any outstanding options would expire according to provisions of the company’s stock option plan.
For further information about CanAlaska Uranium, visit the company’s website at www.canalaska.com.