Revolver Resources Inc.: Golden Triangle Update
20.09.2016 | FSCwire
Vancouver - Revolver Resources Inc. (TSXV: RZ) (the “Company” or “Revolver”) is pleased to announce that the J2 Private Syndicate, which Revolver Resources owns a 9% interest in, is just concluding its program focused on precious metals project generation and exploration in north western BC including the Golden Triangle. With strong preliminary results and field observations, the geological team has recommended staking several showings. Additional results are expected over the next several weeks and a detailed update is planned to be provided once all the results have been received and additional staking has been completed. This syndicate was formed with the intention of optioning the properties to qualified parties. Revolver will have the Benefit of receiving its pro-rata share of any cash, stock, and NSR's received through these arrangements.
The J2 syndicate field and technical team includes some of the original project generators of Coffee Creek, recently purchased by Goldcorp for $520 Mill CAD. Members of the J2 team have been recognized through their peers in the industry for several of their mineral discoveries.
“Management and shareholders of Revolver are pleased to have this opportunity with an exploration team of this calibre as further demonstrated by the initial results. The board of Revolver thanks the entire J2 team for the dedication and focus that has resulted in such success,” stated President, C.E.O. & Director Dan Stuart.
Revolver looks forward to reporting detailed results as they become available.
Financing Up-date:
As previously announced on August 5, 2016 the Company is continuing its non-brokered private placement financing of up to $675,000 through the issuance of up to 4.5 million units of the company at a price of 15 cents per unit. Each unit will consist of one common share and one transferable common share purchase warrant with each warrant exercisable by the holder into one common share of the company at a price of 20 cents per share for a period of five years from the closing date. In the event that the company's shares trade at a closing price at or above 25 cents per common share for a period of 10 consecutive trading days at any time after the closing date of the private placement, the company may accelerate the expiry date of the warrants by giving notice to each holder thereof, and in such case the warrants will expire 30 days from the date of providing such notice.
The private placement and payment of finders' fees are both subject to approval by the TSX Venture Exchange.
The net proceeds of the private placement will be used to finance work on the Gold Drop property in connection with the option agreement with Ximen Mining Corp., working capital and general corporate purposes.
On Behalf of the Board of Directors
Dan Stuart
President, C.E.O. & Director
604-488-3900
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
The J2 syndicate field and technical team includes some of the original project generators of Coffee Creek, recently purchased by Goldcorp for $520 Mill CAD. Members of the J2 team have been recognized through their peers in the industry for several of their mineral discoveries.
“Management and shareholders of Revolver are pleased to have this opportunity with an exploration team of this calibre as further demonstrated by the initial results. The board of Revolver thanks the entire J2 team for the dedication and focus that has resulted in such success,” stated President, C.E.O. & Director Dan Stuart.
Revolver looks forward to reporting detailed results as they become available.
Financing Up-date:
As previously announced on August 5, 2016 the Company is continuing its non-brokered private placement financing of up to $675,000 through the issuance of up to 4.5 million units of the company at a price of 15 cents per unit. Each unit will consist of one common share and one transferable common share purchase warrant with each warrant exercisable by the holder into one common share of the company at a price of 20 cents per share for a period of five years from the closing date. In the event that the company's shares trade at a closing price at or above 25 cents per common share for a period of 10 consecutive trading days at any time after the closing date of the private placement, the company may accelerate the expiry date of the warrants by giving notice to each holder thereof, and in such case the warrants will expire 30 days from the date of providing such notice.
The private placement and payment of finders' fees are both subject to approval by the TSX Venture Exchange.
The net proceeds of the private placement will be used to finance work on the Gold Drop property in connection with the option agreement with Ximen Mining Corp., working capital and general corporate purposes.
On Behalf of the Board of Directors
Dan Stuart
President, C.E.O. & Director
604-488-3900
This News Release may contain forward-looking statements including but not limited to comments regarding the acquisition of certain mineral claims. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Revolver undertakes no obligation to update such statements, except as required by law.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates, including that: the current price of and demand for minerals being targeted by the Company will be sustained or will improve; the Company will be able to obtain required exploration licences and other permits; general business and economic conditions will not change in a material adverse manner; financing will be available if and when needed on reasonable terms; the Company will not experience any material accident; and the Company will be able to identify and acquire additional mineral interests on reasonable terms or at all. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including: that resource exploration and development is a speculative business; that environmental laws and regulations may become more onerous; that the Company may not be able to raise additional funds when necessary; fluctuations in currency exchange rates; fluctuating prices of commodities; operating hazards and risks; competition; potential inability to find suitable acquisition opportunities and/or complete the same; and other risks and uncertainties listed in the Company’s public filings. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.