Revolver raises $453,203 from private placement

2016-10-06 18:15 ET – News Release

Mr. Dan Stuart reports

REVOLVER CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT

Revolver Resources Inc. has closed the second tranche of the private placement announced on Aug. 5, 2016, and Sept. 20, 2016, for total proceeds of $453,203 and totaling 3,021,355 units. Each unit of the financing comprises one common share at a price of 15 cents and one full share purchase warrant at a price of 20 cents per share, which may be exercised for a period of five years. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of 25 cents per share for a period of 10 consecutive days. In such case of accelerated warrants, the issuer may give notice, in writing or by way of a news release, to the subscribers, that the warrants will expire 30 days from the date of providing such notice. The company announces Feb. 5, 2017, as the hold period expiry date for this second tranche of the private placement.

The company paid a cash commission of $11,650 and issued 77,715 broker warrants for this second tranche. The broker warrants have the same terms as the private placement warrants.

The company also announces the closing of the first tranche of the private placement on Aug. 22, 2016, for gross proceeds of $112,500. The first tranche was for a total of 750,000 shares. The terms of the first tranche are the same as the second tranche terms. The company announces Dec. 23, 2016, as the hold period expiry date for this first tranche of the private placement.

The company paid a cash commission of $1,500 and issued 10,000 broker warrants. The broker warrants have the same terms as the private placement warrants.

We seek Safe Harbor.

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