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| Home : Torch River Resources Announces Private Placement for Proceeds of $75,000 |
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May 28
2013 |
Torch River Resources Announces Private Placement for Proceeds of $75,000 |
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CALGARY, ALBERTA--(Marketwired - May 27, 2013) - Torch River Resources (TSX VENTURE:TCR) ("Torch" or the "Company") is pleased to announce the second of a series of a non-brokered private placements of 2,500,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of $75,000 (the "Second Offering"). Each Unit will consist of one (1) common share ("Common Share") in the capital of the Company and one (1) Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share of the Company for a period of two (2) years from the closing of the Offering at an exercise price of $0.05 in year 1 and $0.10 in year 2. The net proceeds from the Second Offering will be used by the Company for working capital and general corporate purposes. The Company intends to close the Second Offering as soon as practicable. |
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| Source:http://www.marketwire.com/mw/release.do?id=1795033&sourceType=3 |
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