Gen III Oil Corporation (“Gen III” or the “Company“) (TSX VENTURE:GIII) (FRA:PN41) is pleased to announce that it has retained Hybrid Financial Inc. (“Hybrid“) for strategic investor relations initiatives. The initiatives will include marketing, distribution, and branding services for Gen III with a specific focus on elevating Gen III’s profile with brokers in Germany and Canada.
Pursuant to the terms of its agreements with the Company, Hybrid will receive a monthly retainer of CDN$14,000 commencing immediately for an initial term of three months for the Canadian campaign and a monthly retainer of €30,000 for an initial term of three months for the German campaign. Following the initial term of three months, the agreements with Hybrid will be automatically renewed on a month-to-month basis unless terminated within 10 days of the completion of the initial term and on 15 days’ notice thereafter.
In addition pursuant to the engagement agreements, Hybrid will be granted stock options to purchase an aggregate of 500,000 common shares of Gen III at an exercise price of $0.61 per share for a term of two years which will vest quarterly in equal installments over a 12 month period. The Company has been advised that Hybrid does not presently have any interest, directly or indirectly, in Gen III or its securities.
The engagement of Hybrid is subject to approval by the TSX Venture Exchange.
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.
About Hybrid
Founded in 2003, Hybrid is a high impact sales and marketing company working on behalf of clients in the financial services industry. Hybrid’s unique approach helps effectively and efficiently build brands and launch products on behalf of small, medium, and large clients. Offices in Toronto and Montreal allow Hybrid to comprehensively cover both United States and Canadian markets along with its operations in Frankfurt to cover the German market. Hybrid is a strong and growing team of 35+ sales professionals and 70+ sales call agents with a proprietary database of over 300,000 United States and Canadian brokers.
About Gen III Oil Corporation
Gen III Oil Corporation is an innovative oil processing company with the most advanced re-refining technology in the industry. The Company’s patented ReGenTM technology process combines proven refining technologies into a proprietary process that is able to extract a higher quantity of high quality base lubricating oils than traditional re-refineries, including greater than 50% Group III production of synthetic grade motor oil in a commercial scale re-refining operation. The Company currently holds 4 patents granted in North America and has several patent applications, patents pending or under review in strategic countries around the world. The Company’s first full-scale facility is currently under development in Bowden, Alberta, 100km north of Calgary, with targeted production commencing in Q1 of 2019 (the (“Project“). With a fully executed off-take marketing agreement in hand with Elbow River Marketing Ltd., a subsidiary of Parkland Fuel Corporation, the Company has in place agreements for the sale of all of its finished products when commercial production begins at its Bowden facility. The Bowden facility is being designed to process 2,800 bpd of used motor oil into a range of base stocks and related petroleum products. For more information about the Company, please visit www.geniiioil.com.
On Behalf of the Board of Gen III Oil Corporation
“Greg Clarkes”
Greg Clarkes
Chief Executive Officer
For further information contact Greg Clarkes at (604) 806-5275
Suite 1750 – 400 Burrard Street
Vancouver, BC V6C 3A6
Tel: (604) 806-5275 Fax: (604) 806-4875