Module Resources Incorporated

Module Resources Incorporated

September 01, 2011 16:37 ET

Module Resources Closes Non-Brokered Unit Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 1, 2011) -


Module Resources Incorporated (TSX VENTURE:MLE) announces today that, subject to regulatory approval, it has closed a non-brokered private placement of 3,912,500 units at a price of C$0.08 per unit for gross proceeds of C$313,000. Each unit will consist of one common share and one common share purchase warrant exercisable for a period of 12 months. Share purchase warrants may be exercised in the first 6 months at C$0.12 per share and at C$0.16 per share in the following 6 months from the date of issue. Each warrant will be exercisable to acquire one additional common share of the Company.

Module paid finder's fees of $26,800 in respect of certain investors introduced to the Company.

All of the securities issued under this private placement will be subject to a four-month hold period.

The proceeds from the sale of the units will be used for general corporate purposes.


Bruce W. Downing, M.Sc., P.Geo., FEC (Hon.), President & Chief Executive Officer

We seek Safe Harbor.

Caution concerning forward-looking information

This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.

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 the accuracy of this press release.

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