THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.
Rupert Resources Ltd (“Rupert” or “the Company”) is pleased to announce that it has now closed its previously announced non-brokered private placement and has issued 9,249,000 common shares of the Company (“Common Shares“) at a price of $0.80 per Common Share for gross proceeds of $7,399,200 (the “Private Placement“).
The Company intends to use the proceeds from the Private Placement for its continued exploration program of the Pahtavaara project and general corporate purposes. The securities issued in connection with the Private Placement are subject to a four-month hold period, in accordance with applicable securities laws.
The Company has agreed to pay the following cash finder’s fees in respect of certain sales under the Private Placement: (i) to Smaller Capital Company, $10,000 and (ii) to Canaccord Genuity Limited, $3,504.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws and may not be offered or sold within the United States unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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