Wycliffe Resources Inc.

January 18, 2006 11:59 ET

Wycliffe Resources Inc. Announces $759,000 Private Placement

TORONTO, ONTARIO--(CCNMatthews - Jan. 18, 2006) - Wycliffe Resources Inc. ("Wycliffe") is pleased to announce that it has completed a private placement for gross proceeds of $759,000.

The company has issued 303,600 units at a price of $2.50 per unit. Each unit consists of one non flow-through common share and four flow-through common shares. All securities issued pursuant to the private placement are subject to a four month hold period following the closing date.

Wycliffe intends to use the proceeds of the private placement for exploration on existing and other exploration projects in which it may acquire an interest, working capital purposes and for administrative and operating expenses.

Wycliffe is a junior resource company focused on the exploration and development of mining properties in Ontario.

This press release includes certain "Forward-Looking Statements" within the meaning of the US Private Securities Reform Act of 1995. Other than statements of historical fact, all statements are "Forward-Looking Statements" that involve such various known and unknown risks, uncertainties and other factors. There can be no assurance that such statements will prove accurate. Results and future events could differ materially from those anticipated in such statements. Readers of this press release are cautioned not to place undue reliance on these "Forward-Looking Statements". All dollar amounts are Canadian dollars unless otherwise noted.

No securities regulatory authority has approved or disapproved of the contents of this news release.

Contact Information

  • Wycliffe Resources Inc.
    Michael Newbury
    (416) 815-8666