Reva Resources Corporation

January 21, 2008 09:00 ET

Reva Reports Closing of Private Placement and Subsequent Change of Directors and Officers

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 21, 2008) - Reva Resources Corporation (TSX VENTURE:RVA) reports that, further to its news release of September 10, 2007, it has completed a private placement raising gross proceeds of $1.5 million by the issuance of 30 million units. Each unit consists of one common share and one share purchase warrant, each warrant entitling the holder to purchase, for one year from closing, one common share at a price of $0.10 per share. Reva issued 3 million common shares as a finder's fee in connection with this private placement. All securities issued in connection with this private placement are subject to a hold period expiring on May 18, 2008.

Following the closing of the private placement, Reva's directors resigned and were replaced with Sargent H. Berner, David Cowan and Barbara Dunfield. Barbara Dunfield has been appointed as Reva's president and chief executive officer.

On Behalf of the Board of Directors

Barbara Dunfield, President & CEO

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Reva Resources Corporation
    Barbara Dunfield
    (604) 685-6851