Rupert Resources Closes $6.4 Million Private Placement
Not for Distribution to U.S. Newswire Services or for Release, Publication, Distribution or Dissemination Directly, or Indirectly, in Whole or in Part, in or Into the United States
Rupert Resources Ltd. (TSX:RUP) ("Rupert" or the "Company") is pleased to announce that it has closed the previously announced private placement of 1,799,329 common shares in the capital of the Company (the "Shares") issued at a price of $3.58 per Share for gross proceeds of $6,441,597.82 (the "Private Placement").
The net proceeds of the Private Placement will be used for on-going exploration expenditures, technical and environmental studies on the Company's properties in Finland and for general corporate purposes as set out in the Prospectus.
The Private Placement remains subject to the final approval of the Toronto Stock Exchange.
This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Shares 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 in the United States absent registration or an applicable exemption from registration.
About Rupert
Rupert Resources is a gold exploration and development company listed on the Toronto Stock Exchange under the symbol "RUP". The Company is focused on making and advancing discoveries of scale and quality with high margin. The Company's principal focus is Ikkari, a new high quality gold discovery in Northern Finland. Ikkari is part of the Company's "Rupert Lapland Project" which also includes the Pahtavaara gold mine, mill, and exploration permits.
Cautionary Note Regarding Forward Looking Statements
This press release contains statements which, other than statements of historical fact constitute "forward-looking statements" within the meaning of applicable securities laws. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. This press release contains forward-looking information in a number of places such as in statements relating to the anticipated use of proceeds for the Private Placement; and the final approval of the Private Placement from the Toronto Stock Exchange. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 29, 2024. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240801922044/en/
Contact
James Withall
Chief Executive Officer
jwithall@rupertresources.com
Thomas Credland
Head of Corporate Development
tcredland@rupertresources.com
Rupert Resources Ltd.
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
+1 416-304-9004
http://rupertresources.com/
