Regal Resources Inc.

CNSX : RGR


Regal Resources Inc.

October 26, 2012 16:12 ET

Regal Resources Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 26, 2012) - Regal Resources Inc. (the "Company" or "Regal") (CNSX:RGR) is pleased to announce that, further to its prior news releases of April 5, 2012, May 16, 2012 and August 16, 2012, it has closed the second and final tranche of its non-brokered private placement by issuing 870,000 Units at a per Unit price of $0.10 for gross proceeds of $87,000. Each Unit is comprised of one common share in the capital of the Company and one transferable share purchase warrant, each warrant entitling the holder to purchase one additional common share at a price of $0.20 until October 25, 2013, subject to accelerated expiry in certain circumstances. Shares acquired by the placees are, and shares which may be acquired upon the exercise of the share purchase warrants will be, subject to a hold period until February 26, 2013, in accordance with applicable securities legislation.

Funds raised by this tranche of the private placement will be used by Regal for general corporate purposes.

A director of the Company participated in this private placement having purchased 600,000 Units, constituting a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 as the fair market value of the transaction insofar as it involved interest parties did not exceed 25% of the Company's market capitalization.

About Regal Resources Inc. (www.regalresinc.com):

Regal Resources Inc. is a junior mineral exploration and development company based in Vancouver, Canada. The Company is focused on the development and acquisition of copper projects in the prolific copper producing state of Arizona. The Company is currently focused on its advanced exploration copper/silver property, the Patagonia (Sunnyside) property, located near Nogales, Arizona. Regal Resources is listed on the Canadian National Stock Exchange (CNSX) under the symbol (RGR).

This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change.

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