TORONTO, ONTARIO--(Marketwired - Dec. 17, 2014) - Rupert Resources Ltd. ("Rupert" or "the Company") (TSX VENTURE:RUP) announces that it has closed its previously announced non-brokered private placement financing (the "Financing") (see news release December 9, 2014) of 1,699,999 Units at a price of $0.06 per Unit for proceeds of $102,000.
Each Unit consists of one common share in the capital of the Company and one common share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one common share at an exercise price of $0.075 per common share until December 17, 2015.
The securities issued in connection with this Financing will be subject to a statutory hold period of four months and a day, which expires on April 18, 2015.
As a result of the issuance of the securities, the Company has 57,597,137 common shares issued and outstanding.
The Company intends to use the proceeds from the Financing for general and administrative purposes.
The Company paid no commission or finder's fee to parties in connection with the Financing.
The closing of the Financing is subject to the receipt of final TSX Venture Exchange approval.
ON BEHALF OF THE BOARD
M. Kostuik, President and 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.
Cautionary Note Regarding Forward Looking Statements
This Press Release contains statements which constitute "forward-looking statements", including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis and Annual Information Form for the year ended October 30, 2013 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.