Revolver Closes Non-Brokered Private Placement
12 Febrero 2014 - 4:25PM
Marketwired
Revolver Closes Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 12, 2014) -
Revolver Resources Inc. (the "Company") (TSX-VENTURE:RZ) is pleased
to announce that it has closed the first-tranche (the "First
Tranche") of its non-brokered private placement (the "Private
Placement"), previously announced on January 28, 2014, for gross
proceeds of $367,996.86.
The First Tranche consisted of the issuance of 6,133,281 units
(the "Units") at a price of $0.06 per Unit. Each Unit consists of
one common share and one transferable share purchase warrant (each
a "Warrant"). Each Warrant entitles the holder to acquire one
common share of the Company for a period of one year from the
closing date of the Private Placement at a price of $0.12 per
common share.
In connection with closing the First Tranche, the Company paid a
cash finder's fee to Richardson GMP Limited in the aggregate amount
of $300, in consideration of its efforts in sourcing purchasers for
the Private Placement.
All securities issued under the First Tranche are subject to a
hold period expiring four months and one day from the date of
issuance. The proceeds from the Units of the Private Placement for
the current drill program on the Summit B project and for general
working capital.
About Revolver
Resources Inc.:
Revolver recently announced it has entered into an option
agreement with Pistol Bay Mining Inc. whereby Revolver may earn a
60% interest in the Summit B property (For more information on the
option agreement see the Revolver press release dated May 17th,
2013).
The 1,394 hectare (3,446 acre) Property is located in the Iskut
area of northwestern British Columbia, Canada, and is contiguous
with Colorado Resources Ltd.'s ("Colorado") North Rok copper-gold
property (the "North Rok Property"). Colorado's recent North Rok
Property discovery hole intersected 242 metres grading 0.63% copper
and 0.85 g/t gold. More complete details can be found in Colorado's
news release dated April 25, 2013. The Summit B property is also 20
kilometres northwest of Imperial Metals Red Chris Copper-Gold
project.
Technical information in this news release has been prepared
and/or revised by Michel Boily, PhD, P. Geo, and qualified person
as defined in NI 43-101.
For further information on Revolver please visit our website at
www.revolverresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Boily, 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.
Revolver Resources Inc.Michel BoilyPresident(778) 331-2025(604)
683-5309www.revolverresources.com
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