Deveron Resources Ltd.

November 23, 2012 16:03 ET

Deveron Completes Initial Public Offering

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2012) -


This press release does not constitute an offer to sell securities.

Deveron Resources Ltd. ("Deveron" or the "Company") is pleased to announce that it has closed its previously announced initial public offering (the "Offering") of common shares ("Common Shares") of the Company. A total of 3,000,000 Common Shares were sold under the Offering for gross proceeds of $750,000.

Leede Financial Markets Inc. (the "Agent") acted as agent for the Offering. In consideration for their services in connection with the Offering, the Agent received a cash commission of 10% of the gross proceeds raised under the Offering, a corporate finance fee of $15,000 plus HST, a syndication fee of $5,000 and broker warrants ("Broker Warrants") in an amount equal to 10% of the aggregate number of Common Shares sold under the Offering. Each Broker Warrant will be exercisable to acquire one Common Share at a price of $0.25 per Common Share for a period of 24 months following the closing of the Offering.

The TSX Venture Exchange (the "TSXV") has conditionally approved the listing of the Common Shares under the symbol "DVR" and trading is expected to commence on or about Tuesday November 27, 2012. Listing of the Common Shares will be subject to the Company fulfilling all of the listing requirements of the TSXV. Listing will only occur upon issuance by the TSXV of its final bulletin.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Deveron

Deveron is a junior mining exploration company engaged in the acquisition, exploration and development of mineral resource properties in Canada. The Company's activities are currently focused on the exploration and development of the Nechako Property, located in the Blackwater gold camp, approximately 100 kilometres southwest of Vanderhoof, central British Columbia.

Statements in this press release regarding the Company's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. The Company does not assume any obligation to update or revise events or circumstances unless required by applicable securities laws.

Shares Outstanding: 11,794,505

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.

Contact Information

  • Deveron Resources Ltd.
    James Pirie
    President and CEO
    416-367-4571 ext. 228