CALGARY, ALBERTA, Oct. 22, 2010 (Marketwire) -- Alhambra Resources Ltd. (TSX VENTURE:ALH) ("Alhambra" or the "Corporation") announces that the Corporation has engaged the services of a Hong Kong based public relations firm, Ketchum Newscan Public Relations Limited ("Ketchum Greater China") to assist the Corporation in increasing its exposure to existing and potential investors in Hong Kong and China.
Given Alhambra's recently completed private placement of US$8,000,000, the majority of which was subscribed for by investors from Hong Kong and China, the Corporation determined that is was appropriate to increase its exposure in Asia and to educate investors within these regions on the investment opportunities in Kazakhstan.
Mr. John J. Komarnicki, Alhambra's Chairman and Chief Executive Officer stated, "With the interest shown in Alhambra by our new Asian shareholders we are endeavoring to keep them abreast of our ongoing corporate activities via a focused public relations program."
Ketchum Greater China has been retained until the end of February 2011 at a monthly retainer fee of HK$100,000 per month (which at current exchange rates is equivalent to approximately C$13,000 per month) plus third party costs and out-of-pocket expenses. Ketchum Greater China's objectives are to:
-- Build up Alhambra's corporate profile in Hong Kong's financial community
-- Help the Asian investor understand Kazakhstan's gold mining sector
-- Keep potential and existing Asian investors, media and financial analyst
abreast of the Corporation's business developments and plans
Ketchum Greater China will not be involved in market-making activities.
Approval of the arrangement with Ketchum Greater China is subject to the appropriate regulatory approval of the TSX Venture Exchange.
Alhambra is a Canadian based international exploration and gold production corporation celebrating its eighth year of operations in the Republic of Kazakhstan. Alhambra holds exploration and exploitation rights to a 2.7 million acre (11,000 km(2)), 100% owned, license called the Uzboy Project, located in the Northern Kazakhstan Metallogenic Province which hosts numerous world-class gold deposits. Over 100 mineral targets, including 5 advanced exploration plays are contained within the Uzboy Project.
Alhambra common shares trade in Canada on The TSX Venture Exchange under the symbol ALH, in the United States on the Over-The-Counter Pink Sheets Market under the symbol AHBRF and in Germany on the Frankfurt Open Market under the symbol A4Y. The Corporation's website can be accessed at www.alhambraresources.com.
ABOUT KETCHUM GREATER CHINA
A professional communications consultancy since 1980 and now in its 30th anniversary year, Ketchum Greater China operates five offices in Greater China including Hong Kong, Beijing, Shanghai, Guangzhou and Taipei, as well as a network of affiliates throughout the Asia Pacific region. With a blue chip client roster in four key practice areas including Corporate/Financial Communications, Brand Marketing, Food and Nutrition and Technology, the agency represents news-making companies, offering them an extensive breadth and depth of knowledge and expertise. Its program innovation and execution excellence have consistently gained industry recognition, including top awards presented by leading PR industry magazine PRWeek and China International Public Relations Association. Ketchum Greater China is a member of Ketchum, one of the top-ten global public relations firms. Additional information on Ketchum and its award-winning work can be found at www.ketchum.com.
Certain statements contained in this news release constitute "forward-looking statements" as such term is used in applicable Canadian and US securities laws. These statements relate to analyses and other information that are based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management. In particular, statements concerning the anticipated regulatory body approval and public relations activities and other factors or events described in this news release should be reviewed as forward-looking statements to the extent they involve estimates thereof.
Such forward looking statements including but without limitation, future investment decisions regarding securities of the Corporation involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Corporation to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such risks and other factors include, Ketchum's inability to build up the Corporation's corporate profile in Hong Kong, failure to obtain regulatory body approval; political, social and other risks inherent in carrying on business in a foreign jurisdiction, the effects of a recessionary economy and such other business risks as discussed herein and other publicly filed disclosure documents. Although the Corporation has attempted to identify important factors that could cause actual events or results to differ materially from those described in forward-looking statements, there may be factors that cause actions, events or results not to be as anticipated, estimated of intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could vary or differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements contained in this news release.
Forward-looking statements are made based on management's beliefs, estimates and opinions on the date the statements are made and the Corporation undertakes no obligation to update forward-looking statements should these beliefs, estimates and opinions or other circumstances change, except as required by applicable law. Investors are cautioned that such forward-looking statements involve risks and uncertainties. The forward-looking statements contained herein are expressly qualified by this cautionary statement.
Neither the TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
Alhambra Resources Ltd.
VP & Chief Information Officer
+1 (403) 508-4953
Alhambra Resources Ltd.
Chairman & CEO
+1 (403) 228-2855