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Revolver Resources Inc. Announces Closing of $360,000 First Tranche of Private Placement
By: Marketwired .
Nov. 14, 2012 07:56 PM
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/15/12 -- Revolver Resources Inc. (TSX VENTURE:RZ) (the "Company") announces it has closed a first tranche (the "1st Tranche") financing for total gross proceeds of $360,000 by the issuance of 7,200,000 units (each a "Unit") at a price of $0.05 per Unit. Each Unit consists of one common share (a "Share") and one transferable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one common share (a "Warrant Share") at a price of $0.15 for 1 year from the closing of the 1st Tranche. Subject to TSX Venture Exchange approval, the Company will pay a finder's fee of $15,000 in cash and 300,000 non-transferable finder's warrants ("Finder's Warrants") to Bateman & Company Ltd. Each Finder's Warrant entitles the holder to purchase one common share (a "Finder's Warrant Share") at a price of $0.15 per Finder's Warrant Share for 1 year from the closing of the 1st Tranche. This closing represents the first tranche of the Company's previously announced non-brokered private placement.
All securities issued above are subject to a hold period expiring on March 15, 2013, being 4 months and 1 day after closing of the 1st Tranche. The proceeds of the private placement will be used for general working capital and subsequent tranches for exploration expenditures on the Company's properties.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act"), or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
Robert L. Birmingham, President
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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