REC Record Resources Inc

NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Reliant Gold Corp. ("Reliant" or the "Company") (TSX VENTURE:REC) is pleased to
announce that it is proposing to complete a non-brokered private placement of
800,000 units (the "Units") to raise aggregate gross proceeds of $100,000 (the
"Offering"). Each Unit, priced at $0.125, will consist of one common share of
Reliant and one common share purchase warrant (a "Warrant") of Reliant. Each
Warrant will entitle the holder thereof to purchase one common share of Reliant
(a "Warrant Share") at a price of $0.15 per Warrant Share for 24 months
following the closing of the Offering.


Reliant plans to use the proceeds from the Offering for corporate overhead
expenditures and for property option payments in relation to one or more of the
Company's previously disclosed property option agreements.


Most of the Offering is anticipated to be subscribed for by insiders of the
Company. The Offering constitutes an interim hard-dollar financing which will
strengthen the Company's balance sheet and will augment the flow-through
financing of $375,000 completed by the Company on April 11, 2011. 


The flow-through funds of $375,000 which were previously raised have been
committed to carrying out exploration programs at the Company's (1) MC Dalhousie
gold-silver-copper project in Stewart, British Columbia and (2) Borden Lake
South gold-copper project in Chapleau, Ontario, during the third and fourth
quarters of 2011.


No cash commission or compensation of any other kind is being paid in relation
to the above-noted Offering, and the Company has previously disclosed all
material information relating to the Company.


Due to the fact that insiders are anticipated to subscribe for Units pursuant to
the Offering, the Offering will be a "related party transaction" for the
purposes of Multilateral Instrument 61-101 - Protection of Minority Security
Holders in Special Transactions ("MI 61-101"). The Company anticipates that it
will rely on the exemptions from the valuation and minority approval
requirements of MI 61-101 contained in paragraph (a) of Section 5.5 and
paragraph (1)(a) of Section 5.7, respectively, of MI 61-101, as neither the fair
market value of the Offering of nor the fair market value of the consideration
for the Offering will exceed 25% of the Company's market capitalization.


It is anticipated that the Offering will close as soon as is practicable and no
later than July 22, 2011, as the Company requires the working capital that will
be provided by the proceeds of the Offering immediately. The Offering is subject
to certain conditions typical for a transaction of this nature, including the
approval of the TSX Venture Exchange and all other necessary regulatory
approvals. 


The common shares and Warrants comprising the Units to be issued pursuant to the
Offering and the common shares issuable on the exercise of the Warrants will be
subject to a four-month restricted resale period, such period to commence on the
closing of the Offering.


This press release is not an offer to sell or a solicitation of an offer to buy
the securities, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction.
The Units being sold pursuant to the offering have not been and will not be
registered under the United States Securities Act of 1933, as amended, and may
not be offered or sold within the United States or to, or for the account or
benefit of, U.S. persons except in certain transactions exempt from the
registration requirements of the United States Securities Act of 1933, as
amended.


ABOUT RELIANT

Reliant is a junior mineral exploration company with an experienced management
team engaged in the acquisition, exploration and development of properties for
the mining of precious and base metals and uranium. The Corporation holds: (i)
an option to acquire a 100% interest in the MC Dalhousie Property located in
northwestern British Columbia, Canada; (ii) an option to acquire a 100% interest
in the North Nonacho Property in the vicinity of Nonacho Lake, Northwest
Territories, Canada; (iii) an option to acquire a 100% interest in the Esten
Property located 10 km south of Elliott Lake, Ontario, Canada, as well as 16
units staked by the Company contiguous to the Esten Property; and (iv) a 100%
interest in the Borden Lake South Property, comprised of 288 claims, located 10
km east of town of Chapleau, Ontario. The common shares of Reliant trade on the
TSX Venture Exchange under the stock symbol "REC". The Company has 19,702,777
common shares issued and outstanding.


FORWARD-LOOKING STATEMENTS

Certain statements in this press release may constitute "forward-looking"
statements which involve known and unknown risks, uncertainties and other
factors which may cause actual results, performance or achievements of Reliant
or the industry in which it operates to be materially different from any future
results, performance or achievements expressed or implied by such
forward-looking statements. When used in this press release, the words
"estimate", "believe", "anticipate", "intend", "expect", "plan", "may",
"should", "will", the negative thereof or other variations thereon or comparable
terminology are intended to identify forward-looking statements. Such statements
reflect the current expectations of the management of Reliant with respect to
future events based on currently available information and are subject to risks
and uncertainties that could cause actual results, performance or achievements
to differ materially from those expressed or implied by those forward-looking
statements. These risks and uncertainties are detailed from time to time,
including, without limitation, under the heading "Risk Factors", in continuous
disclosure documents filed by Reliant from time to time with the Ontario,
British Columbia and Alberta Securities Commissions which are available at
www.sedar.com and to which readers of this press release are referred for
additional information concerning Reliant, its prospects and the risks and
uncertainties relating to Reliant and its prospects. New risk factors may arise
from time to time and it is not possible for management to predict all of those
risk factors or the extent to which any factor or combination of factors may
cause actual results, performance and achievements of Reliant to be materially
different from those contained in forward-looking statements. Although the
forward-looking statements contained in this press release are based upon what
management believes to be reasonable assumptions, Reliant cannot assure
investors that actual results will be consistent with these forward-looking
statements. Given these risks and uncertainties, investors should not place
undue reliance on forward-looking statements as a prediction of actual results.


The forward-looking information contained in this press release is current only
as of the date hereof. Reliant does not undertake or assume any obligation,
except as required by law, to release publicly any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof or to reflect the occurrence of unanticipated events.

Record Resources (TSXV:REC)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Record Resources (TSXV:REC)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024