Ring of Fire Resources Inc. Closes Private Placement to Raise $1,500,000
Ring of Fire Resources Inc. (the "Company") (TSX-V:ROF, FRANKFURT: RG5, OTC.PK:HWKPF) announces that it has closed a private placement previously announced in its press releases of March 25, 2011 and March 29, 2011. The Company has raised gross proceeds of $1,500,000 through the sale of 17,647,058 units (the "Units") at $0.085 per Unit. Each Unit consists of one common share of the Company (a "Common Share") and one purchase warrant (a "Warrant"). Each Warrant will entitle the holder to purchase one Common Share for a period of 2 years at an exercise price of $0.15 per share for the first 12 months from the date of issue, and at an exercise price of $0.20 per share for the next 12 months thereafter.
Ring of Fire Res is a exploration company based in Canada.