RUNNING FOX RESOURCE CORP.
TSX-V �RUN� OTC �RFXRF� Frankfurt �C8Q�
Thursday April 1, 2010
Running Fox Private Placement
Steven Schurman, P.Geol.,Director, CEO, reports:
Running Fox has negotiated a $705,000 private placement financing, primarily for exploration and drilling of its resource properties. The financing is for 4,704,500 Units at 15 cents per Unit, with each Unit comprised of a common share and a common share purchase Warrant, exercisable for 15 cents for one year. There will be 7% finder's fees paid on a portion of the placement in the amount of $13,432 to Northern Securities and $1,050 to Canaccord Capital.
The Company has filed for TSX approval to the private placement.
On behalf of the Board of Directors: Steven Schurman, P.Geol.,Director, CEO, Running Fox Resource Corp.
403 742 0527 www.foxgold.ca
The Company relies on legislation applicable to forward looking statements, seeking safe harbour.
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RUNNING FOX RESOURCE CORP. ("RUN") - Private Placement-Non-Brokered
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to
a Non-Brokered Private Placement announced March 31 and April 1, 2010:
Number of Shares: 4,704,500 units
Each unit consists of one common share and one common share purchase warrant.
Purchase Price: $0.15 per unit
Warrants: 4,704,500 share purchase warrants to purchase 4,704,500 shares
Warrant Exercise Price: $0.15 unit March 31, 2010.
Number of Placees: 37 placees
Insider / Pro Group Participation:
Name Insider=Y / ProGroup=P # of Units
Michael Meyers Y 870,000
Trent Moore Y 100,000
Abby Koshner Y 100,000
Shane Koshner Y 100,000
Bryan Paul P 60,000
Stature Inc. P 200,000
Thomas W. Seltzer P 125,000
James Blake P 150,000
Finder's Fee: $13,432 cash payable to Northern Securities Inc.
$1,050 cash payable to Canaccord Capital Corp.
Pursuant to Corporate Finance Policy 4.1, Section 1.11(d), the Company must issue a news release announcing the closing of the private placement and setting out the expiry dates of the hold period(s).
The Company must also issue a news release if the private placement does not close promptly. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.
TSX X