PRESS RELEASE
Private placements of 1,1M$ at a
price of $0.18
Rimouski,
December 11, 2007 - Ressources Appalaches (APP-TSX-V) announces a flow-through
private placement offering at $0.18 per share and an ordinary private placement
at $0.15 per share to raise a total amount of $1,110,000.
The
first offering of $504,000 has been reserved entirely by Northern Precious
Metals fund. This offering will consist of 2,800,000 flow-through shares at a
price of $0.18 per share and 1,400,000 share purchase warrants.
The
second private offering has been reserved for accredited investors and for
employees, executive officers, directors and consultants. This offer consists
of a 1,000
Units at a price of $606 per Unit. Each Unit consists of 2,700 flow-through
common shares at a price of $0.18 per share, 800 common shares at a price of
$0.15 per share and 2,000 warrants.
Each
warrant may be exercised at a price of $0.20 per share for a period of 18
months from the date of issuance. If, at any time, the trading price of the
common shares of the Company on the TSX Venture Exchange is equal to or exceeds
$0.35 for 10 consecutive trading days, as determined by the share price at the
close of market, Ressources Appalaches shall be entitled to notify in writing
the holders of warrants of its intention to adjust the exercise price of the
warrants. Upon receipt of such notice, the holders of warrants shall have 10
business days to exercise the warrants, failing which the exercise price of the
warrants will automatically be adjusted to $0.30 until their expiration.
All
securities issued in connection the offering will be subject to a four months
hold period form the closing date. The offering is subject to the approval of
the regulatory authorities; including the TSX-Venture Exchange.
Proceeds
from the placements will be used to conduct exploration work on the
Company’ properties in Canada.
The planned work program is budgeted at $990,000 for drilling and geological
mapping.
Additional
information concerning these financings is available from the Company. Surf on
our new Web site www.ressourcesappalaches.com.
The TSX Venture
Exchange does not accept any responsibility for the content of this press
release as being truthful or accurate.
– 30 –
For more
information :
Andr� Proulx����������������������������������������������������������������������������������� Samuel Saint-Laurent
President���������������������������������������������������������������������������������������������� Investor Relations
418-724-0901���������������������������������������������������������������������������������������������� 418-723-0854
info@ressourcesappalaches.com