Revolver Resources Inc. Closes Second Tranche of Private Placement
06.10.2016 | FSCwire
Vancouver - Revolver Resources Inc. (TSXV.RZ) (the “Company” or “Revolver”) is pleased to announce that it has closed the second tranche of the private placement announced on August 5, 2016 and September 20, 2016 for total proceeds of $453,203. and totaling 3,021,355 units. Each unit of the financing comprise of one common share at a price of $0.15 and one full share purchase warrant at a price of $0.20 per share, which may be exercised for a period of five years. The term of the warrants may be accelerated in the event that the issuer's shares trade at or above a price of $0.25 cents per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. The Company announces February 5, 2017 as the hold period expiry date for this second tranche of the private placement.The Company paid a cash commission of $11,650. and issued 77,715 broker warrants for this second tranche. The broker warrants have the same terms as the private placement warrants.
The Company also announces the closing of the first tranche of the private placement on August 22, 2016 for gross proceeds of $112,500. The first tranche was for a total of 750,000 shares. The terms of the first tranche are the same as the second tranche terms. The Company announces December 23, 2016 as the hold period expiry date for this first tranche of the private placement.
The Company paid a cash commission of $1,500. and issued 10,000 broker warrants. The broker warrants have the same terms as the private placement warrants.
On Behalf of the Board of Directors,
“Dan Stuart”
Dan Stuart, Director
604-488-3900
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, continued availability of financing, and general economic, market or business conditions.
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.
