Renforth Closes Private Placement Financing
July 25, 2013 at 15:32 PM EDT
Renforth Closes Private Placement Financing
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Toronto, Ontario CANADA, July 25, 2013 /FSC/ - Renforth Resources Inc. (RFR - CNSX),("Renforth" or the "Company") announces that it has completed a non-brokered private placement financing (the "Offering") raising gross proceeds of $91,050 through the issuance of 1,100,000 units ("Units") at $0.05 per Unit and 515,000 flow-through units ("Flow-Through Units") at $0.07 per Flow-Through Unit. Each Unit consists of one common share in the capital of the Company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.05 for a period of 12 months following closing. Each Flow-Through Unit consists of one common share in the capital of the Company issued on a 'flow-through' basis, and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.10 for a period of 12 months following closing.
In connection with the Offering, the Company intends to issue finders warrants ("Finder's Warrants") of up to 8% of the number of Units and Flow-Through Units issued under the Offering for services rendered to the Corporation in respect of the Offering. Each Finder's Warrant will be exercisable for one common share of the Issuer.
The proceeds raised under the Offering will be used for Canadian Exploration Expenses on the Company's properties, including the New Alger project.
All securities issued under the Offering are subject to a four-month statutory hold period in Canada.
ABOUT RENFORTH
Renforth Resources Inc. is a Toronto-based exploration company with interests in two exploration assets: the previously productive New Alger property, located in the Cadillac Break Mining Camp, Quebec, and the Mink Lake Project, located outside of Red Lake, Ontario, in a setting interpreted to be similar to the adjacent Springpole Mine Project.
For further information please contact:
Renforth Resources Inc.
Nicole Brewster
President and Chief Executive Officer
T: (416) 368.5049 F: (416) 368.3151
E: nicole@renforthresources.com
No securities regulatory authority has approved or disapproved of the contents of this news release.
To view the press release as a PDF file, please click on the following link:
http://www.usetdas.com/pr/renforth07252013.pdf
Source: Filing Services Canada Inc. (TSX-V: FSC) http://www.fscwire.com
Maximum News Dissemination by FSCwire. http://www.fscwire.com
