TORONTO, ONTARIO--(Marketwired - April 17, 2013) - Rupert Resources Ltd. ("Rupert" or "the Company") (TSX VENTURE:RUP) is pleased to announce that it has completed a non-brokered private placement financing (the "Offering") as previously announced on March 26, 2013. The Offering consisted of the sale of 5,100,000 common shares at a price of $0.10 per share for gross proceeds of $510,000, increased from the $500,000 the Company had initially intended to raise.
The Offering remains subject to final approval of the TSX Venture Exchange. All common shares issued are subject to a statutory hold period of four months and one day from the date of closing.
In connection with the Offering the Company agreed to pay a finder's fee, payable in cash, to certain eligible persons. On closing of the Offering, the Company made cash payments totalling $25,000 to two such eligible persons with respect to the payment of finder's fees.
The Company intends to use the proceeds from the Offering for its previously announced pre-drilling exploration program and for general working capital purposes.
ON BEHALF OF THE BOARD
M. Kostuik, President and CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Contact Information:
416 848 7744
www.rupertresources.com