Regulus Resources Inc.
TSX VENTURE : REG

Regulus Resources Inc.

November 06, 2014 17:07 ET

Regulus Announces Closing of Final Tranche of $5 Million Financing

CALGARY, ALBERTA--(Marketwired - Nov. 6, 2014) -

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Regulus Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) announces that it has closed the final tranche of its previously announced $5 million non-brokered private placement offering (the "Financing"). The Company today issued the final 300,000 Units of the Financing at $0.45 per Unit to subscribers for proceeds of $135,000. Each Unit consists 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. In total the Company closed all of the planned $5 million 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.

John Black, Chief Executive Officer of Regulus stated, "We are very pleased with the support shown by our investors in completing the full amount of the offering. Closing the Financing in today's turbulent market environment is a vote of confidence in the Company and its recently acquired AntaKori project."

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 participated in a portion of the Financing. Finder's fees were 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 anticipate, including the intended use of proceeds of the Financing 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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