Revolver Appoints Interim President, Announces Private Placement and Turns its Focus to the Gold Market
VANCOUVER, British Columbia – May 24, 2016 – REVOLVER RESOURCES INC. (TSX.V.RZ) (the “Company” or “Revolver”). The Board of Directors of Revolver has agreed to appoint Mr. Dan Stuart as interim president to assist the Company in focusing its efforts on the emerging gold market and procuring financing for any upcoming opportunities.
With respect to Mr. Stuart’s appointment, Barry Brown, director of Revolver stated: “We are grateful to have the opportunity to provide Mr. Stuart with a platform that we feel he can accelerate and utilize his experience in a new capacity.”
Mr. Stuart is the Senior V.P. Western Canada of Aberdeen Gould Capital Markets Ltd located in Toronto. He is a successful financier in Canada’s capital markets with over 20 years of experience and has raised over $100 million in funding for public and private corporations. He has a vast network of high net worth and institutional clients in the Americas, Europe, Middle East and Asia. Mr. Stuart previously built substantial client businesses within two of Canada’s largest independent brokerage firms.
The Company further announces that it intends to raise up to $450,000 on a non-brokered basis through the sale of up to 3,000,000 units at a price of $0.15 cents per unit. The units of the financing will comprise one common share and one share purchase warrant, which may be exercised for a period of five years at a price of $0.20 per share. The term of the warrants may be accelerated in the event that the Company’s shares trade at or above a price of $0.25 per share for a period of 10 consecutive trading days. In such case of accelerated warrants, the Company may give notice, in writing or by way of news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice.
A finder’s fee may be paid to eligible finders in accordance with the TSX Venture Exchange policies. All securities issued pursuant to the offering will be subject to a hold period of four months and one day from the date of closing. The offerings and payment of finders’ fees are both subject to approval by the TSX-V.
On Behalf of the Board of Directors,
Barry Brown, Director
FORWARD LOOKING STATEMENTS
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management.” All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities, financings and events or developments that the Company expects, are forward looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include exploitation and exploration successes, the timing and receipt of government and regulatory approvals, continued availability of financing, and general economic, market or business conditions. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
Neither 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 release.