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CALGARY, ALBERTA--(Marketwire - May 27, 2011) - Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINK SHEETS:TORVF) is pleased to announce that it has closed the non-brokered private placement announced April 25, 2011. The Corporation issued 5,400,000 (the "Units") at a price of $0.05 per Unit for gross proceeds of $270,000 (the "Offering"). 3,400,000 units (the "Flow-through Units") consisted of one (1) common share in the capital of the Corporation issued and one-half (1/2) common share purchase warrant (a "Warrant"). The further 2,000,000 units, consisted of one (1) common share ("Common Share") in the capital of the Corporation issued and one common share purchase Warrant. Each Warrant entitles the holder to purchase one Common Share of the Corporation at an exercise price of $0.10 for a period of twenty four (24) months from the closing of the Offering. |
