Torch River Resources Ltd.
TSX VENTURE : TCR
FRANKFURT : WNF
PINK SHEETS : TORVF

Torch River Resources Ltd.

April 01, 2010 08:30 ET

Torch River Closes Addition to Private Placement

CALGARY, ALBERTA--(Marketwire - April 1, 2010) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce that it closed on March 31, 2010, the additional 2,000,000 non flow through units (the "Units") to its non-brokered private placement announced March 16, 2010.

Torch issued 2,000,000 Units at a price of $0.05 per Unit for gross proceeds of $100,000 (the "Offering"). Each Unit consisted of one common share in the capital of the Corporation issued and one common share purchase warrant (a "Warrant"). Each Warrant entitled the holder to purchase one Common Share of the Corporation at an exercise price of $0.10 for a period of sixty (60) months from the closing of the Offering.

The common shares and warrants have a four month hold period from the closing date of the Offering.

The remaining $200,000 of the placement announced March 12, 2010 is expected to close in the next two weeks.

Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding Torch's work programs. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information , events, results or circumstances or otherwise.

NEITHER 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 RELEASE.

Contact Information

  • Torch River Resources Ltd.
    William E. Pfaffenberger
    President
    (403) 444-6888
    www.torchriver.ca
    or
    ProActive Communications Co.
    Local Vancouver: (604) 541-1995
    Or toll free: (800) 540-1995