TORONTO, ONTARIO--(Marketwire - March 15, 2013) - Darnley Bay Resources Limited (TSX VENTURE:DBL) (the "Company" or "Darnley Bay") is pleased to announce that it has closed a non-brokered private placement of 10,000,000 units at a price of $0.05 per unit, for gross proceeds of $500,000. Each unit consists of one common share in the capital of the Company (a "Common Share") plus one warrant. Each warrant entitles the holder thereof to purchase one Common Share for a period of three years from the date of issuance of the warrants at an exercise price of $0.10 per Common Share. The securities issued pursuant to the private placement are subject to a four-month hold period. The private placement remains subject to final acceptance by the TSX Venture Exchange (the "TSXV").
The Company intends to proceed with a debt settlement of $100,000 to the issuance of 2,000,000 Common Shares, which was previously announced by way of a press release on February 28, 2013.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that Darnley Bay expects are forward-looking statements. Although Darnley Bay believes the expectations expressed in such statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the statements. There are certain factors that could cause actual results to differ materially from those in forward-looking statements. These include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on Darnley Bay, investors should review registered filings at www.sedar.com.
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.