Ressources Appalaches inc.
TSX VENTURE : APP

Ressources Appalaches inc.

December 31, 2007 12:15 ET

Ressources Appalaches Completes Another Private Placement of $560,550

RIMOUSKI, QUEBEC--(Marketwire - Dec. 31, 2007) - Ressources Appalaches (TSX VENTURE:APP) ("Appalaches") has completed a private placement of $560,550 with accredited investors and employees, executive officers, directors and consultants. Pursuant to this placement, Appalaches has issued 2 497 500 flow-through common shares at a price of $0.18 per share, 740 000 common shares at a price of $0.15 per share and 1 850 000 common share purchase warrants, each giving the right to subscribe for one common share.

Each common share purchase warrant can be exercised at a price of $0.20 per share until June 30, 2009. If, the common shares of Appalaches have a closing price equal to or greater than $0.35 per share for a period of 10 consecutive trading days at any time after April 29, 2008, Appalaches will have the right, to notify the warrants holders in writing of its intention to change the exercise price of the warrants. Upon receipt of such notice, the holder will have 10 business days to exercise its warrants, failing which their exercise price will be automatically adjusted to $0.30 until their expiration.

All securities in connection with the placement will be subject to a hold period until April 29, 2008. The proceeds of the placements will be used by Appalaches for exploration work and working capital. Further to the placement Appalaches currently has 60 994 653 shares issued and outstanding common shares.

Additional information concerning these financings is available from the Company. Surf on our new Web site www.ressourcesappalaches.com.

The TSX Venture Exchange does not accept any responsibility for the content of this press release as being truthful or accurate.

Contact Information

  • Ressources Appalaches Inc.
    Andre Proulx
    President
    418-724-0901
    president@ressourcesappalaches.com
    or
    Ressources Appalaches Inc.
    Samuel St-Laurent
    Investor Relations
    418-723-0854