Selwyn Resources Announces $650,000 Closing of Second Tranche of Financing

- August 2nd, 2010

Selwyn Resources Ltd. (TSX VENTURE:SWN) announced that it has closed on a second tranche of the previously-announced (see June 16, 2010 News Release) non-brokered offering of Flow-through shares and Units.

Selwyn Resources Ltd. (TSX VENTURE:SWN) announced that it has closed on a second tranche of the previously-announced (see June 16, 2010 News Release) non-brokered offering of Flow-through shares and Units.

The press release is quoted as saying:

Pursuant to the Offering, in this second tranche, the Company issued 1,600,000 Flow-through shares for gross proceeds of $320,000. Each Flow-through share was priced at $0.20 per share. The securities have a four month hold period that expires on November 24, 2010. In addition, Resource Capital Fund IV LP (“RCF”) exercised its right to participate in the financing and maintain its 20.6% equity interest in Selwyn. RCF acquired 1,650,000 common shares also at $0.20 per share for proceeds of $330,000. The shares acquired by RCF also are subject to the hold period that expires on November 24, 2010.

Click here to access the entire press release

Click here to access Selwyn Resources Ltd. Corporate Site

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