Ressources Appalaches Inc.

Ressources Appalaches Inc.

February 13, 2012 14:41 ET

Ressources Appalaches Completes Private Placement of $1,265,000

RIMOUSKI, QUEBEC--(Marketwire - Feb. 13, 2012) -


Ressources Appalaches (TSX VENTURE:APP) announces the closing of a private placement with accredited investors, employees, executive officers, directors and consultants for a total amount of $1,265,000 completed mostly through, Axiom Capital Management Inc. of New York.

The proceeds from this placement will be used to rehabilitate the Dufferin Mine, Nova Scotia, with the goal of resuming production as soon as practical; this will involve initiating mine dewatering activities, rehabilitation of existing infrastructure, renewing permits, undertaking metallurgical testing, and updating the 43-101 report on the property. The update of the 2009 report will include 8,630 metres of additional drilling. A more detailed initial work program will be announced in due course.

Alain Hupé states: "We are beginning the process of migrating from an exploration company to a gold producer. We intend to restart production with the existing production plant attaint profitability as soon as possible. Furthermore, we believe there are opportunities to develop the resources and increase production further over time".

In this placement Appalaches issued 25,300,000 common shares at $0.05 per share and 25,300,000 warrants. Each warrant gives its holder the right to purchase one common share at $0.10 per share no later than February 13, 2014 and is subject to an accelerating clause. These securities are subject to a four-month holding period. In connection with this placement, Appalaches paid finders' fees a total of $92,625 and issued 1,853,244 warrants, each giving the right to purchase one (1) common share at a price of $0.10 per share for a period of two years following the date of closing, subject to an accelerating clause.

Headquartered in New York, NY, Axiom Capital Management, Inc. is a FINRA registered Broker-Dealer with 63 employees and more than $1.4 billion in assets under management (AUM). With a solid capital base and over 20 years of experience, Axiom combines broad-based transactional expertise with in-depth industry knowledge, to provide superior service to their clients.

About Ressources Appalaches

Founded in 1994, the goal of Ressources Appalaches has been to discover and develop deposits of base and precious metals in Canada, and more especially in Québec and Nova Scotia. Appalaches is now mainly focused on the development of the Dufferin gold mine in Nova Scotia.

Photos of the Dufferin Mine and its facilities are available on the Company's website at:

The contents of this press release were prepared and checked by Alain Hupé, Ing. a Qualified Person as defined in NI 43-101. Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts any responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking statements that include elements of risk and uncertainty. Consequently, actual results may differ substantially from those anticipated in such statements. These risks and uncertainties are described in the quarterly and annual reports, and in the documents submitted to the securities administration.

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