Ria Resources Corp. Announces non-brokered private placement

    




 CALGARY, Oct. 18, 2011 /CNW/ - Ria Resources Corp. ("RIA" or the  "Corporation") is pleased to announce a non-brokered private placement  for aggregate gross proceeds of up to $1,500,000 comprised of up to  $250,000 in common shares issued on a flow-through basis ("Flow-Through  Shares") at a price of $0.20 per Flow-Through Share and $1,250,000  common shares ("Common Shares") at a price of $0.10 per Common Share  (together referred to as the "Offering"). 

 The proceeds of the Offering will be used for corporate overhead and  working capital to fund the continued work program on the properties  held by RIA. 

 The Offering is subject to the receipt of all necessary regulatory  approvals. The Flow-Through Shares and Common Shares will be offered in  Alberta by way of a private placement. There will be no minimum to the  Offering.  Although insiders may participate in the Common Share  portion of the Offering, it is not anticipated that participation of  insiders, if any, will exceed in aggregate 25% of the Offering.  The  securities issued pursuant to the Offering will be subject to a four  (4) month hold period in Canada from the date of the closing of the  Offering.  The Offering is expected to close on or about November 30,  2011. 

 RIA is a company listed and trading on the TSX Venture Exchange, symbol:  RIA. 

 This news release does not constitute an offer to sell or a solicitation  of an offer to buy any of the securities in the United States.  The  offered securities mentioned in this news release will not be  registered under the United States Securities Act of 1933, as amended  (the "U.S. Securities Act") and may not be offered or sold within the  United States or to, or for the account or benefit of U.S. persons  except in certain transactions exempt from the registration  requirements of the U.S. Securities Act. 

 This news release shall not constitute an offer to sell or the  solicitation of an offer to buy any securities in any jurisdiction. 

 Forward Looking Statements 

 This press release contains forward looking statements. More  particularly, this press release contains statements concerning the  anticipated use of the proceeds of the Offering and date of prospective  closing. Although RIA believes that the expectations reflected in these  forward looking statements are reasonable, undue reliance should not be  placed on them because RIA can give no assurance that they will prove  to be correct. Since forward looking statements address future events  and conditions, by their very nature they involve inherent risks and  uncertainties. The intended use of the proceeds of the Offering by RIA  might change if the board of directors of RIA determines that it would  be in the best interests of RIA to deploy the proceeds for some other  purpose. The forward looking statements contained in this press release  are made as of the date hereof and RIA undertakes no obligations to  update publicly or revise any forward looking statements or  information, whether as a result of new information, future events or  otherwise, unless so required by applicable securities laws. 

 Neither the 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. 



Ria Resources Corp.


CONTACT:  Glenn HamiltonChief Financial OfficerRia Resources Corp.Telephone No. [phone] 


    

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