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3/10/11

Peter Grandich's clients and Mark Morabito: Sheer coincidence, of course

And as is the way of these things, tonight after the bell a company called Ridgemont Iron Ore Corp (RDG.v) issued a news release that said the following:

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 10, 2011) - Ridgemont Iron Ore Corp. (TSX VENTURE:RDG - News; "Ridgemont") is pleased to announce that, subject to regulatory approval, Ridgemont has engaged the services of Grandich Publications LLC to provide public and shareholder communications and marketing services.
Grandich Publications LLC provides corporate communications services to public and private companies in North America and specializes in the development and management of customized public relations and marketing programs. The principal of Grandich Publications LLC, Mr. Peter Grandich, is a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts and is the editor of The Grandich Letter, first published in 1984.
Under the terms of the agreement, Ridgemont will pay Grandich Publications LLC a monthly fee of US$2,000 and will grant 200,000 incentive stock options to Peter Grandich, managing partner of Grandich Publications LLC. The options are exercisable at a price of CDN$1.11 each, with such options vesting over a twelve month period, and expiring on the 9th day of March, 2016. The agreement is for an initial term of 12 months. The agreement is subject to regulatory approval and all terms are subject to and in accordance with the rules of the TSX Venture Exchange.

So Peter Grandich gets another promo gig, good for him. The NR was signed off by RDG.v President and CEO, Mark J. Morabito. Fair enough, so let's just check to see if there are any previous relationships between the vehicles pumped by Peter Grandich and Mark Morabito:

1) Silver Quest Resources (SQI.v): A paying client of Peter Grandich with a director named Mark Morabito.

2) Alderon Resource (ADV.v): A paying client of Peter Grandich with a President and CEO named Mark Morabito.

3) Crosshair Exploration (CXX.v): A paying client of  Peter Grandich with an Executive Chairman named Mark Morabito.

4) Excelsior Mining Corp (MIN.v): A paying client of Peter Grandich with a Chairman named Mark Morabito.

5) Santa Fe Metals Corp (SFM.v): A paying client of Peter Grandich with a director named Mark Morabito.

Now isn't that just the strangest coincidence? Peter Grandich decides that not one, not two but six companies that have Mark Morabito as a company officer are worthy of his professional services and good enough to present as live investment prospects to his flock. But hey...move along now...nothing to see here...