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

Torch River Resources Ltd.

November 19, 2010 13:58 ET

Torch River Closes Private Placement

CALGARY, ALBERTA--(Marketwire - Nov. 19, 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 November 18, 2010, the 1,250,000 non flow through units (the "Units") on its non-brokered private placement announced November 09, 2010.

Torch issued 1,250,000 Units at a price of $0.08 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-half common share purchase warrant (a "Warrant"). Each Warrant entitled the holder to purchase one Common Share of the Corporation at an exercise price of $0.12 for a period of twenty four (24) 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.

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

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
    Toll Free: (800) 540-1995