Vancouver, April 15, 2016 – 92 Resources Corp. (the “Company”) (TSXV: NTY) (FSE: R9G2) is pleased to announce that further to the Company’s news release announcing the private placement on November 18, 2015 and March 1, 2016, it has closed the third and final tranche of the private placement in the amount of $103,000. In total the Company raised $318,836 through the sale of 6,376,720 units. The Company received final TSX Venture Exchange Approval on April 15, 2016.
Upon closing of the third tranche, the Company will be issuing 2,190,000 units (the “Units”) at a price of $0.05 per unit. Each unit is comprised of one (1) common share and one-half (1/2) of one transferrable 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. Finder’s fees of $3,200 cash and 64,000 warrants will be payable to Mackie Research Capital Corporation.
All securities issued in connection with this offering will be subject to a statutory hold period of four months plus a day from the date of issuance, in accordance with applicable securities legislation.
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
email@example.com or visit www.92resources.com
On Behalf of the Board of Directors,
Adrian Lamoureux, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, “forward‐looking statements”. Forward‐looking statements may be identified by words including “anticipates”, “believes”, “intends”, “estimates”, “expects” and similar expressions. The Company cautions readers that forward‐looking statements, including without limitation those relating to the Company’s future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward‐looking statements.