Renforth Resources (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that on December 31, 2018 it completed a private placement financing (the “Offering”) raising $615,000 through the issuance of 12,300,000 of flow-through common units (“Flow-Through Units”).
Renforth Resources (CSE:RFR) (“Renforth” or the “Company”) is pleased to announce that on December 31, 2018 it completed a private placement financing (the “Offering”) raising $615,000 through the issuance of 12,300,000 of flow-through common units (“Flow-Through Units”). Each Flow-Through Unit consists of one common share in the capital of the Company issued on a “flow-through” basis, and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.12 for a period of 18 months following closing.
In connection with the Offering, the Company paid $51,625 in issue costs and issued 336,000 compensation warrants. Each compensation warrant is exercisable, for 18 months, for one common share of Renforth at $0.12 per share.
The proceeds raised under the Offering will be used for Canadian Exploration Expenses on the Company’s properties.
All securities issued under the Offering are subject to a four-month statutory hold period in Canada.
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements:
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as “may”, “will”, “plan”, “expect”, “believe”, “anticipate”, “estimate”, “intend” and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com.
Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5