Revolver Resources Inc.
TSX VENTURE : RZ

April 05, 2012 11:57 ET

Revolver Resources Inc. Closes Second Tranche of Non Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 5, 2012) - Revolver Resources Inc. (the "Company") (TSX VENTURE:RZ) is pleased to announce that it has closed the second and final tranche (the "Second Tranche") of its non-brokered private placement announced on February 21, 2012. The Company issued 3,026,666 flow-through units (the "FT Units") at a price of $0.15 per FT Unit for gross proceeds of $453,999.90.

The second tranche of the private placement has been over-subscribed by 26,666 Units.

Each FT Unit consists of one common share and one transferable share purchase warrant (each a "Warrant"). Each Warrant entitles the holder to purchase one additional common share of the Company at a price of $0.20 until March 27, 2013.

In connection with closing the Second Tranche of the private placement, the Company has agreed to pay finders' fees in the aggregate amount of $45,500 in cash to various finders (the "Finders") for their efforts in sourcing purchasers for the private placement. The Finders will also receive 302,666 non transferable finders' warrants (each a "Finder's Warrant") for the FT Units placed by the Finders. Each Finder's Warrant entitles the holder to purchase one common share (a "Finder's Warrant Share") at an exercise price of $0.20 per Finder's Warrant Share until March 27, 2013.

All securities issued pursuant to the closing of the Second Tranche are subject to a four month and one day hold period expiring on July 28, 2012.

The Company intends to use the proceeds from the flow-through private placement to conduct exploration programs on the Company's mineral property.

ON BEHALF OF THE BOARD OF DIRECTORS

Robert L. Birmingham, President

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Contact Information

  • Revolver Resources Inc.
    Robert L. Birmingham
    President
    (604) 683-8610
    (604) 683-8605 (FAX)