Renforth Raises an Oversubscribed Total of $1,558,100

Renforth Raises an Oversubscribed Total of $1,558,100

(TheNewswire)

Renforth Resources Inc.

November 23, 2022 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") announces that the previously announced private placement has closed oversubscribed, with a total of $1,558,100 gross funds raised in a combination of flow through and non-flow through funds. The Company has closed the final tranches of the previously announced non-brokered private placement for additional gross proceeds of C$869,300 from the sale of 580,000 non-flow through units of the Company at a price of C$0.035 per unit and 21,225,000 flow-through units of the Company at a price of C$0.04 per flow-through unit. Each non-flow through unit consisted of one common share of the Company and one common share purchase warrant. Each flow through unit consisted of one common share to be issued as a "flow-through share" within the meaning of the Income Tax Act (Canada) and one half of one warrant. Each whole warrant entitles the holder to purchase one common share at a price of C$0.06 for a period of 24 months following the distribution date. In connection to this tranche of the financing, the company paid a cash commission of $44,850 and issued 1,207,000 finders warrants. The finders warrants are exercisable at a price of C$0.06 for a period of 24 months.

Renforth is currently drilling on the Company's wholly owned 330 sq km Surimeau District Property with the first drillhole at Lalonde almost completed, Prop5 as noted in the map below. Logging of the first half of the drill hole records visual mineralization near the top of the hole, as anticipated based upon mapping of the stripped area which the drill hole in undercutitng.


Click Image To View Full Size

Technical disclosure in this press release has been reviewed and approved by Brian H. Newton P.Geo, a "qualified person" pursuant to NI 43-101.

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

C:416-818-1393

E: nicole@renforthresources.com

#Unit 1B – 955 Brock Road, Pickering ON L1W 2X9

Follow Renforth on Facebook, LinkedIn and Instagram!

About Renforth

Renforth is focused on Quebec's newest battery metals district, our wholly owned ~330 km 2 Surimeau District Property, which hosts several known areas of polymetallic "battery metals" mineralization, each with various levels of exploration, as well as a significant amount of unexplored ground. Victoria West has been drilled over a strike length of 2.2km, within a 5km long mineralized structure, proving nickel, copper, zinc and cobalt mineralization, in the western end of a 20km magnetic anomaly. The Huston target, during initial reconnaissance, resulted in a grab sample grading 1.9% Ni, 1.38% Cu, 1170 ppm Co and 4 g/t Ag. Additionally, the Lalonde, Surimeau and Colonie Targets are all polymetallic mineralized occurrences which, along with various gold showings, comprise the areas of potential of this NSR free property.

In addition to the Surimeau District battery metals property Renforth wholly owns the Parbec Gold deposit, a surface gold deposit contiguous to the Canadian Malartic Mine property in Malartic, Quebec. In 2020/21 Renforth completed 15,569m of drilling which successfully twinned certain historic holes, filled in gaps in the resource model with newly discovered gold mineralization and extended mineralization deeper. Based upon the success of this significant drill program the Company considers the spring 2020 MRE, with a resource estimate of 104,000 indicated ounces of gold at a grade of 1.78 g/t Au and 177,000 inferred ounces of gold at a grade of 1.78 g/t Au to be out of date. With the new data gained Renforth will undertake to complete the first ever structural study of the mineralization at Parbec, as well as additional total metallic assay work in order to better contextualize the nugget effect on the gold mineralization.

Renforth also holds the Nixon-Bartleman property, west of Timmins Ontario, with gold present on surface over a strike length of ~500m.

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.

Copyright (c) 2022 TheNewswire - All rights reserved.

News Provided by TheNewsWire via QuoteMedia

RFR:CC
The Conversation (0)
Renforth Resources Exhibiting at PDAC Booth #2136

Renforth Resources Exhibiting at PDAC Booth #2136

(TheNewswire)

Renforth Resources Inc.

February 23, 2023 TheNewswire - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) (" Renforth" or the "Company") would like to invite interested parties to visit our booth, #2136, during the Prospectors & Developers Convention in Toronto, Ontario to be held at the Metro Convention Centre March 5-8, 2023.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Presenting on the Emerging Growth Conference on February 22 Register Now

Presenting on the Emerging Growth Conference on February 22 Register Now

EmergingGrowth.com a leading independent small cap media portal announces the schedule of the 50 th Emerging Growth Conference on February 22, 2023.

The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Renforth Resources Presents in Red Cloud's Virtual Webinar Series

Renforth Resources Presents in Red Cloud's Virtual Webinar Series

Renforth Resources (CSE: RFR) is pleased to announce that the company is presenting a live virtual corporate update hosted by Red Cloud Financial Services on February 15th, 2023 at 2:00 pm ET.

We invite our shareholders, and all interested parties to register for the webinar and participate in the live Q&A session at the end of the presentation moderated by Red Cloud.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Renforth Intersects Surface Battery Metals Mineralization in Lalonde Channeling

Renforth Intersects Surface Battery Metals Mineralization in Lalonde Channeling

(TheNewswire)

Renforth Resources Inc.

November 27 th 2022 TheNewswire Pickering, ON - Renforth Resources Inc. (CSE:RFR) (OTC:RFHRF) (FSE:9RR) ("Renforth" or the "Company") is pleased to advise shareholders that channels cut within the 3 stripped trenches at Lalonde, which are being undercut in the current drill program, did intersect surface battery metals mineralization as measured in the field and confirmed by the assay laboratory.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Renforth Resources Inc.: Invitation to Red Cloud's 2022 Fall Mining Showcase

Renforth Resources Inc.: Invitation to Red Cloud's 2022 Fall Mining Showcase

Renforth Resources Inc. (CSE: RFR) is pleased to announce that the company will be presenting at Red Cloud's 2022 Fall Mining Showcase. We invite our shareholders and all interested parties to join us there.

The annual conference will be hosted in-person, at the Sheraton Centre Toronto Hotel from November 9-10, 2022.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
RETRANSMISSION: World Copper Provides Corporate Update

RETRANSMISSION: World Copper Provides Corporate Update

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") is pleased to provide a general corporate update regarding the Company's assets and direction.

Zonia Project Update

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heritage Mining Commences 2024 Exploration Season at Expanded Drayton-Black Lake

Heritage Mining Commences 2024 Exploration Season at Expanded Drayton-Black Lake

(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC, May 22, 2024 TheNewswire Heritage Mining Ltd. (CSE: HML FRA:Y66) (" Heritage " or the " Company ") is pleased to announce the commencement of the 2024 exploration program at its flagship property Drayton Black Lake (" DBL "). The Company believes the progress achieved to date represents important milestones for systematic exploration in one of the last underdeveloped greenstone belts in Northwestern Ontario.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Falco Thanks the Community for Its Participation at the BAPE Public Information Session

Falco Thanks the Community for Its Participation at the BAPE Public Information Session

Falco Resources Ltd. (TSX.V: FPC) (" Falco " or the " Corporation ") provides a positive assessment of the public information meeting of the Bureau d'audiences publiques sur l'environnement (" BAPE ") held on May 21 st at the Petit Théâtre du Vieux-Noranda. More than 200 people came for information and to ask questions about Falco's Horne 5 Project (" Falco's Horne 5 Project " or the " Project ") not counting webcast participants, which demonstrates the population's high level of interest in the Project for all the surrounding communities.

This public information session allowed the population and various organizations to obtain details on the Project and answers on subjects of concern to them. Falco's team has been engaged and listening to citizens since day one. To that effect, Falco has heard each of the concerns raised during the public information session and again invites the population to come meet the team at Espace Falco, located at 157 Avenue Principale, in Rouyn-Noranda.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Atico Reports Consolidated Financial Results for First Quarter of 2024

Atico Reports Consolidated Financial Results for First Quarter of 2024

Atico Mining Corporation (the "Company" or "Atico") (TSX.V: ATY | OTC: ATCMF) today announced its financial results for the three months ended March 31, 2024, posting income from mining operations of $2.8 million and a net loss of $0.4 million. Production for the period at Atico's El Roble mine totaled 3.3 million pounds ("lbs") of copper and 2,185 ounces ("oz") of gold in concentrate at a cash cost (1) of $2.57 per payable pound of copper (2) .

Fernando E. Ganoza, CEO and Director, commented, "the operational and financial results for this quarter were in line with Company expectations. We are already into development of the newly discovered reserves and have been making additional investments in preparation for ore extraction from these areas." Mr. Ganoza continued, "for the remainder of the year, we should start to see an improvement in our operating costs as we progressively gain access to mining the upper areas of the mine, while at the same time the recent increase in metals prices, particularly in copper should be positively reflected in our revenue and margin."

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
World Copper Provides Corporate Update

World Copper Provides Corporate Update

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") is pleased to provide a general corporate update regarding the Company's assets and direction.

Zonia Project Update

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Lineage Announces Updates to 2nd Annual Spinal Cord Injury Investor Symposium

Lineage Announces Updates to 2nd Annual Spinal Cord Injury Investor Symposium

  • Persons with Lived Experience Session Expanded to Include Michaela & Kyle Devins
  • Clinical Session Expanded to Include Neuralink
  • Preclinical Session Expanded to Include Axonis, Novoron, Sania & Rewire Medical

Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, today announced updates to its 2 nd Annual Spinal Cord Injury Investor Symposium ("2 nd SCIIS"). The 2 nd SCIIS aims to accelerate development in SCI research and treatments by bringing together companies working in the development of treatments for SCI, with regulators, key opinion leaders, persons with lived experience, patient and community advocacy organizations, and the investment community, in order to discuss perspectives on current and future treatment alternatives, impact and support SCI disease awareness and clinical trial participation through the implementation of patient appropriate clinical endpoints, and broaden awareness of and investment of capital into SCI.

News Provided by Business Wire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×