Regulus Resources Inc.
TSX VENTURE : REG

Regulus Resources Inc.

October 14, 2014 08:00 ET

Regulus Announces $5 Million Financing

CALGARY, ALBERTA--(Marketwired - Oct. 14, 2014) - Regulus Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) announces that it intends to raise up to $5 million through a non-brokered private placement (the "Financing") consisting of up to approximately 11.1 million Units at $0.45 per Unit. Each Unit will consist of one common share of Regulus and one half of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one common share of the Company at $0.70 per share for a period of three years after closing of the Financing.

The purpose of the Financing is to further strengthen the Company's balance sheet so that it is better positioned to advance the AntaKori copper-gold project in Peru that was recently acquired by the Company through its merger with Southern Legacy Minerals Inc. Regulus will issue a further press release outlining its plans for the AntaKori project over the next 6-12 months after a budget has been approved by the Board of Directors.

The Financing is expected to close on or before October 30, 2014, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval and acceptance by the TSX Venture Exchange. All securities to be issued pursuant to the Financing will be subject to a four month hold period from the date of issuance. Insiders of the Company have indicated that they intend to participate in a portion of the Financing. Finder's fees may be payable on a portion of the Financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. All of Regulus' exploration programs and pertinent disclosure of a technical or scientific nature (including such disclosures as are referenced in this release) are prepared by, or under the direct supervision of, John E. Black, Regulus' CEO, who serves as the qualified person (QP) under the definitions of National Instrument 43101.

Forward-Looking Information

Certain statements regarding Regulus, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.

Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Regulus expects or anticipates will or may occur in the future may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Regulus' control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Regulus believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct

Regulus does not undertake any obligation to publicly update or revise any forward-looking statements other than required by applicable securities law.

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