Riverstone Resources Inc.
TSX VENTURE : RVS

Riverstone Resources Inc.

July 17, 2007 18:27 ET

Riverstone Increases Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 17, 2007) -

NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES

Riverstone Resources Inc. (the "Company") (TSX VENTURE:RVS) announces that it has increased the number of Units of the non-brokered private placement announced on July 6, 2007 by 100,000 Units to a total of up to 8.1 million units ("Units") of the Company at a price of C$0.25 per Unit for gross proceeds of C$2,025,000.00. Each Unit consists of one common share of the Company and one half of one share purchase warrant. Each full share purchase warrant will be exercisable to purchase one additional common share of the Company for a period of 12 months at a price of C$0.35 per share. The Company may pay finder's fees for a portion of the financing in accordance with TSX Venture Exchange policies. The private placement is subject to regulatory approval. Securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing date.

The net proceeds of the private placement will be used to provide working capital for the Company and funds for further exploration of the Company's gold projects in Burkina Faso.

ON BEHALF OF THE BOARD

Michael D. McInnis, P.Eng., President & CEO

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

Contact Information

  • Riverstone Resources Inc.
    Michael D. McInnis
    President
    (604) 801-5020
    (604) 801-6075 (FAX)
    or
    Riverstone Resources Inc.
    Raju Wani
    Investor Relations
    (403) 240-0555
    or
    Riverstone Resources Inc.
    Ron Cooper
    Investor Relations
    (604) 986-0112
    Email: info@riverstoneresources.com
    Website: www.riverstoneresources.com