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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Renforth Resources Inc | CSE:RFR | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.01 | 0.01 | 0.015 | 0.01 | 0.01 | 0.01 | 20,500 | 14:30:00 |
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 Renforth Resources Inc. (CNSX:RFR) ("Renforth" or the "Company") announces that it has completed a second tranche of its non-brokered private placement financing (the "Offering") raising an additional $75,000 through the issuance of 1,500,000 of flow-through common units ("Flow-Through Units"). Together with the closing of the first tranche (see the Company's press release dated December 18, 2012), Renforth has raised aggregate gross proceeds of $287,500 through the issuance of 2,250,000 units ("Units") at $0.05 per Unit and 3,500,000 Flow-Through Units at $0.05 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 $0.07 for a period of 12 months following closing. In connection with the Offering, the Company issued 52,500 compensation warrants to an arm's length third party for services rendered to the Corporation in respect of the Offering. Each compensation warrant is exercisable, for 12 months, for one common share of Renforth at $0.07 per share. The proceeds raised under the second tranche of the Offering will be used for Canadian Exploration Expenses on the Company's properties. 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 pursuing the development of the Company's Mink Lake Gold Project in the Red Lake area of Northwestern Ontario. In addition to this the Company also holds the New Alger property, located in the Cadillac Break mining camp in Quebec, a historically productive gold property. FOR FURTHER INFORMATION PLEASE CONTACT: Renforth Resources Inc. Nicole Brewster President and Chief Executive Officer (416) 368.5049 (416) 368.3151 (FAX) nicole@renforthresources.com
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