Rhys Resources Closes Non Brokered Private Placementadmin
VANCOUVER, BC / ACCESSWIRE / April 11, 2014 / Rhys Resources Ltd. (the “Company”) is pleased to announce that, further to its news release of March 28, 2014, the Company has completed its non-brokered private placement offering (the “Offering”) of units of the Company (the “Units”) at a price of $0.05 per Unit. Under the Offering, the Company sold an aggregate 5,060,000 Units for gross proceeds of $253,000.
Each Unit is comprised of one Common Share and one transferable Share Purchase Warrant, each Warrant entitling the holder to purchase one additional Common Share of the Company at $0.05 per share for a period of 12 months.
Net proceeds from the private placement will be used for general working capital. A finder’s fee of $6,500 representing 10% of the proceeds raised will be paid on portions of the placement.
All of the securities issued under the Offering are subject to a statutory hold period expiring August 12, 2014 in accordance with applicable Canadian securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
RHYS RESOURCES LIMITED
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Rhys Resources Ltd.
Posted: April 11th, 2014 under ACCESSWIRE.