Richview Resources Inc. Signs Loan Agreement for Up to Euro 20..0 Million by 24hgold

Mots clés associés : Canada | Euro |

March 25, 2008

Richview Resources - Press Release

Richview Resources Inc. Signs Loan Agreement for Up to Euro 20..0 Million

TORONTO, CANADA, Mar 25, 2008 -- Richview Resources Inc. ("Richview") (TSX: RVR) is pleased to announce that Richview has entered into an agreement to borrow up to Euro 20 million (approximately C$31.6 million at current exchange rates) as a secured loan. The loan proceeds will be used to finance the further exploration and development of Richview's Thierry Mine project.

EquityNet AG ("EquityNet") of Germany has established Richview Project GmbH (the "Lender") as a special purpose German company for the specific purpose of conducting a best efforts prospectus offering in Germany to fund the loan to Richview. The loan financing of Richview by the Lender will be subject to the successful completion of the prospectus offering, planned for June 2008, and is expected to occur in several tranches over a period of approximately 18 months. Of the total gross proceeds of up to Euro 20 million to be raised pursuant to the offering, the loan agreement provides that a minimum of 84% of the gross proceeds will be advanced to Richview, with the remaining 16% to be used to cover the costs of the offering. All amounts up to the Euro 20 million will be treated as loan principal repayable by Richview to the Lender on the maturity date.

The loan arrangements have been structured on the premise that Richview will generate sufficient income from its current and future mining assets over the course of the term of the loan to repay the loan principal at maturity. Accordingly, the agreement provides that the loan principal will be repaid on the maturity date, being December 31, 2013.

Interest will accrue on the loan principal outstanding from time to time at the rate of 13% per annum, payable bi-annually.

As a bonus, the Lender will also receive common shares of Richview on the basis of seven common shares for each Euro 20 advanced to Richview to Lender as loan principal.

The loan arrangements are subject to final acceptance by the TSX.

About Richview

Richview is the sole owner of the past-producing Thierry Mine property in north-western Ontario, adjacent to the town of Pickle Lake. Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.

This press release is available on the Richview IR HUB for investor commentary, feedback and questions. Investors are asked to visit http://www.agoracom.com/IR/Richview . Alternatively, investors are asked to e-mail all questions and correspondence to RVR@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and correspondence directly.

Neither the TSX, nor any other securities regulatory authority has approved or disapproved of the contents of this news release.

This press release includes certain forward-looking statements within the meaning of Canadian securities laws that are based on expectations, estimates and projections as of the date of this press release. There can be no assurance that such statements will prove accurate, and actual results and developments are likely to differ, in some case materially, from those expressed or implied by the forward-looking statements contained in this press release. Readers of this press release are cautioned not to place undue reliance on any such forward-looking statements.

Forward-looking statements contained in this press release are based on a number of assumptions that may prove to be incorrect, including, but not limited to: timely implementation of anticipated drilling and exploration programs; the successful completion of new development projects, planned expansions or other projects within the timelines anticipated and at anticipated production levels; the accuracy of reserve and resource estimates, grades, mine life and cash cost estimates; whether mineral resources can be developed; title to mineral properties; financing requirements; general economic conditions; and changes in laws, rules and regulations applicable to Richview. In addition to being subject to a number of assumptions, forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to be materially different from those expressed or implied by such forward-looking statements. Richview has no intention or obligation to update the forward-looking statements contained in this press release.

Contacts:
Richview Resources Inc.
Sol Prizant
CEO and President
(416) 703-5435
Email: info@richviewresources.com
Website: http://www.richviewresources.com

CHF Investor Relations
Alison Tullis
Account Manager
(416) 868-1079 x233
Email: alison@chfir.com
Website: www.chfir.com

AGORACOM Investor Relations
Investor Relations
Email: RVR@agoracom.com
Website: http://www.agoracom.com/IR/Richview

FEATURED LINKS

Richview Resources Web Site

Richview Resources IR HUB

Légende
	Production
	Mine développement
	Découverte
	Exploration
	Ancien producteur
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