Vancouver, March 17, 2016 – 92 Resources Corp. (the “Company”) (TSXV: NTY) (FSE: R9G2) is pleased to announce that further to the Company’s news releases of January 12, 2016 and March 1, 2016, and TSX Venture Exchange conditional letter approval of January 11, 2016, it has closed the second trance of the private placement in the amount of $159,836.
The Company will be issuing 3,196,720 units (the “Units”) at $0.05. Each Unit comprises one common share and one half of one transferable share purchase warrant (a “Warrant”). Each whole Warrant will permit the Warrant holder to acquire one additional common share of the Company (a “Warrant Share”) at a price of $0.10 per Warrant Share for a period of two years after closing. All the securities issued under the Private Placement will be subject to resale restrictions under applicable securities legislation.
Two insiders of the Company purchased 700,000 Units of the second tranche closing. The Company will not pay finder’s fee.
The Company intends to use the net proceeds from the Private Placement for general working capital, and for expenditures on the Hidden Lake Lithium Property.
For further information, please contact Adrian Lamoureux, Pres. & CEO at: Tel: 778-945-2950
firstname.lastname@example.org or visit www.92resources.com
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO