Ressources Appalaches inc.

Ressources Appalaches inc.

June 22, 2009 14:30 ET

Ressources Appalaches Completes $347,000 Private Placement

RIMOUSKI, QUEBEC--(Marketwire - June 22, 2009) - Ressources Appalaches (TSX VENTURE:APP) has completed a $347,000 private placement, including $125,000 (1,250,000 shares) with insiders. This private placement was intended for qualified investors as well as employees, members of senior management, directors, and consultants. Under this placement, Ressources Appalaches issued 3,470,000 common shares at $0.10 per share and 3,470,000 warrants.

Each five-year warrant grants the right to purchase one common share at the price of $0.12 per share until October 31, 2009, and at $0.15 per share until April 30, 2010. After this date, the warrant's exercise price will be adjusted on a monthly basis according to the weighted average share price of the previous month and according to certain other conditions in the subscription agreement.

As part of this placement, cash compensation of $2,400 and four private placement units totalling 40,000 common shares and 40,000 warrants were paid as broker fees.

These securities will be subject to a four-month holding period. This placement has received the conditional approval of the TSX Venture Exchange.

The proceeds of the placement will be earmarked for working capital and for exploration work on properties located in Canada. With this placement, the Company now has 73,575,853 issued and outstanding shares.

Additional information can be obtained from the Company. Visit our Web site at

"Neither 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."

Contact Information

  • Ressources Appalaches
    Andre Proulx
    Ressources Appalaches
    Christian Guilbaud
    Investor relations