Regulus Resources Inc.
TSX VENTURE : REG

Regulus Resources Inc.

July 27, 2016 09:45 ET

Regulus Announces Closing of Financing

CALGARY, ALBERTA--(Marketwired - July 27, 2016) -

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Regulus Resources Inc. ("Regulus" or the "Company") (TSX VENTURE:REG) announces that it has closed its previously announced brokered unit private placement offering (the "Offering"). An aggregate of 11,537,500 units (the "Units") were sold under the Offering at a price of $1.20 per Unit (the "Issue Price") for total gross proceeds of $13,845,000. The Offering was completed by a syndicate of agents led by Haywood Securities Inc. and PI Financial Corp. (collectively, the "Agents"). The gross proceeds of the Offering include 1,537,500 Units issued as a result of the exercise in full of the Agents' over-allotment option granted in connection with the Offering.

In addition, the Company is pleased to announce that it has closed its concurrent non-brokered offering of 425,000 Units at the Issue Price for total gross proceeds of $510,000.

Total proceeds raised under the brokered and non-brokered portions of the Offering is $14,355,000.

The net proceeds of both offerings will be used to advance the AntaKori copper-gold project in Peru and for general working capital purposes. The Company is currently in the process of planning a drill program for the AntaKori project that is anticipated to commence by the fourth quarter of this year.

All securities issued pursuant to the Offering are subject to a four month hold period from the date of issuance. Insiders of the Company have participated in a portion of the Offering. This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

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.

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 the anticipated use of proceeds of the Offering and any 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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