Oromin Engages Otis and Mandy Partners as Investor Consultants
Oromin Explorations Ltd. has retained Otis and Mandy Partners LLC ("O&M") based in New York City as an institutional markets investor relations consultant to the Company.
O&M is a buy side consulting firm specializing in the resource sector. They have been introducing small cap equities to the institutional investment community across the United States and in select European and U.K. markets since 1995. For the past several years, O&M has been a leading agent in introducing senior management of natural resource and mining companies to both specialist and generalist institutional investors.
Services offered to the Company include initiating contacts and meetings with institutional investors, independent money managers and market makers. The engagement commences March 1, 2008, subject to regulatory approval. Terms include minimum cash payments of USD $80,000 over the next twelve months and the grant of 75,000 incentive stock options exercisable for a five year term at the price of $3.40 per share pursuant to Oromin's stock option plan, including vesting provisions.
Chet Idziszek, President of Oromin Explorations, stated, "We are delighted to be working with O&M. We expect that this established and respected investor relations consulting firm will provide a significant expansion to our network of investors, with a particular focus on gold and other resource funds, hedge funds and other private equity houses. We expect O&M's relationships to build on our base, not only across numerous U.S. markets, but also financial circles abroad."
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