Ringbolt Ventures Ltd.
TSX VENTURE : RBV
FRANKFURT : 3OZ

Ringbolt Ventures Ltd.

April 16, 2008 13:56 ET

Ringbolt Ventures Ltd.: Non-Brokered Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 16, 2008) - Ringbolt Ventures Ltd. (TSX VENTURE:RBV)(FRANKFURT:3OZ) is pleased to announce that it has arranged a non-brokered private placement of 6 million units at a price of 50 cents per unit as previously reserved. Each unit will consist of one common share and one half share purchase warrant. Each warrant is exercisable to purchase a share at a price of 75 cents per share for a period of one year from closing. A finders fee is payable in accordance with TSX-Venture Exchange guidelines.

This financing was negotiated with a group of mainly Asian placees who will assist the Company with its ongoing development strategy.

The company would also like to announce it has set 250,000 incentive stock options. The options will entitle the holder to purchase shares from treasury for a price of 65 cents for a period of two years.

This Private Placement is subject to approval by the TSX-Venture Exchange.

RINGBOLT VENTURES LTD.

On behalf of the Board of Directors

Jason Walsh, Director

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

Contact Information

  • Ringbolt Ventures Ltd.
    Jason Walsh
    Director
    (604) 682-1643
    (604) 682-1666 (FAX)