09 May Renforth Closes Final Tranche of Private Placement
May 6, 2019
Renforth Resources Inc. (CSE – RFR)(“Renforth” or the “Company”) is pleased to announce the second and final closing of the current private placement with $58,000, bringing Renforth’s Spring 2019 fundraising to a total of $245,000. The second closing resulted in the issuance of 760,000 common units (“Units”) at $0.05 per unit and 400,000 flow-through units (“FT Units”) at $0.05 per FT Unit. Each Unit is comprised of one share and one warrant (“Warrant”), each Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.10 for a period of 24 months following closing. Each FT Unit is comprised of one share and one-half of one common share purchase warrant (“FT Warrant”). Each whole FT Warrant entitles the holder to purchase a common share at a price of $0.12 for a period of 18 months following closing.
With the proceeds raised Renforth is funded for, and currently planning, a Spring/early Summer exploration season which will consist of field work at each of Parbec, Nixon-Bartleman and New Alger. Details of these programs will be forthcoming.
For further information please contact:
Renforth Resources Inc.
President and Chief Executive Officer
#269 – 1099 Kingston Road, Pickering ON L1V 1B5
No securities regulatory authority has approved or disapproved of the contents of this news release.
Forward Looking Statements
This news release contains forward-looking statements and information under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forward-looking statements are frequently identified by such words as ‘may’, ‘will’, ‘plan’, ‘expect’, ‘believe’, ‘anticipate’, ‘estimate’, ‘intend’ and similar words referring to future events and results. Such statements and information are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary approvals, licenses and permits and the availability of financing, as described in more detail in the Company’s securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Forward-looking information speaks only as of the date on which it is provided and the Company assumes no obligation to revise or update these forward-looking statements except as required by applicable law.