TORCH RIVER RESOURCES
FOR IMMEDIATE RELEASE
November 23, 2012
TORCH RIVER CLOSES PRIVATE PLACEMENT
Torch River Resources Ltd. (�Torch� or the �Corporation�) is pleased to announce that it has closed the non-brokered
private placement announced September 24, 2012. Torch will issue 4,250,000 common shares (the �Common
Shares�) at a price of $0.02 per share for gross proceeds of $85,000 (the �Offering�). The Offering consists of one (1)
common share in the capital of the Corporation issued and one common share purchase Warrant. Each Warrant entitles
the holder to purchase one Common Share of the Corporation at an exercise price of $0.07 in the first year and $0.10 in
the second year from the closing of the Offering.
The proceeds of the private placement will be used for the following activities:
$7,500 Annual General Meeting Costs
$ 2,000 Private Placement Cost
$ 35,000 Operating Expenses for the next five months
$ 4,000 Property Liability Insurance
$ 7,500 Accounts Payable
$ 7,000 Public Company Costs
$ 22,000 Annual Audit, Tax Filings and Reporting
The private placement is subject to receipt of all necessary regulatory approvals.
Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.
FOR FURTHER INFORMATION PLEASE CONTACT:
William E. Pfaffenberger
President
ProActive Communications Co.
Or toll free
NEITHER 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 RELEASE.
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Torch River Resources Ltd.
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EXPLORATION STAGE |
CODE : TCR.V |
ISIN : CA79015E1060 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Torch River is a gold and copper exploration company based in Canada. Torch River holds various exploration projects in Canada. Its main exploration properties are MT. COPELAND, GROUSE MOUNTAIN, HIGHROCK ISLAND, NAHMINT and RED BIRD in Canada. Torch River is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.2 millions as of today (US$ 2.2 millions, € 1.6 millions). Its stock quote reached its highest recent level on December 31, 2007 at CA$ 0.91, and its lowest recent point on April 12, 2013 at CA$ 0.01. Torch River has 44 888 000 shares outstanding. |