Renforth Resources Inc.

Renforth Resources Inc.

November 23, 2007 14:33 ET

Renforth Resources Inc. Completes $10,000 Private Placement and Files Its Third Quarter Financial Statements

TORONTO, ONTARIO--(Marketwire - Nov. 23, 2007) - Renforth Resources Inc. ("Renforth") is pleased to announce that it has completed a non-brokered private placement for gross proceeds of $10,000 through the sale of 20,000 shares at an issue price of $0.50 per share. The company has issued 4,000 multiple share units at a price of $2.50 per unit, each multiple share unit consisting of one non flow-through common share and four flow-through common shares.

Renforth paid a finder's fee in respect of the private placement in the amount of $1,000, being 10% of the gross proceeds raised pursuant to the private placement. All securities issued pursuant to the private placement are subject to a four month hold period following the closing date of November 19, 2007.

Renforth intends to use the proceeds of the private placement for exploration and development of its mineral properties, and for administrative and operating expenses.

Renforth also announces today that it has filed its Financial Statements and Management Discussion and Analysis report for the quarter ended September 30, 2007. These documents can be viewed under Renforth's profile at

About Renforth

Renforth is a junior resource company focused on diamond exploration in Ontario. Renforth has a large land holding in the Attawapiskat region of Ontario adjacent to the Victor diamond mine that is now under development by DeBeers. The property holdings include the five diamondiferous kimberlites known as the Kyle series that Renforth has drilled and a number of claim blocks that contain high potential geophysical anomalies on which follow-up ground geophysics was completed during the winter.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to Renforth. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. Renforth has no intention or obligation to update the forward-looking statements contained in this press release.

Neither the TSX, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Renforth Resources Inc.
    David Danziger
    President and Chief Executive Officer
    (416) 368-5049