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| Home : Torch River Resources Announces Private Placements for Proceeds of up to $900,000 |
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May 08
2013 |
Torch River Resources Announces Private Placements for Proceeds of up to $900,000 |
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CALGARY, ALBERTA--(Marketwired - May 7, 2013) - Torch River Resources (TSX VENTURE:TCR) ("Torch" or the "Company") ") is pleased to announce a non-brokered private placement of 2,500,000 units (the "Units") at a price of $0.03 per Unit for gross proceeds of approximately $75,000 (the "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 Offering will be used by the Company for working capital and general corporate purposes. The Company intends to close the Offering as soon as practicable. |
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| Source:http://www.marketwire.com/mw/release.do?id=1787806&sourceType=3 |
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