Revolver Resources Corporate Update
VANCOUVER, British Columbia – March 7, 2016 – REVOLVER RESOURCES INC. (TSXV.RZ) (the “Company” or “Revolver”) has arranged a non-brokered private placement of 1.5 million units at a price of $0.10 cents per unit for gross proceeds of $150,000. The units of the financing will comprise of one common share and a full share purchase warrant, which may be exercised for a period of five years at a price of $0.15 per share. The term of the warrants may be accelerated in the event that the issuer’s shares trade at or above a price of $0.20 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 news release, to the subscribers that the warrants will expire 30 days from the date of providing such notice. Directors, officers or other insiders of the Company may participate in the foregoing offerings, and such parties may sell securities of the Company owned or controlled by them personally through the facilities of the TSX Venture Exchange to finance participation in such offerings.
A finder’s fee may be paid to eligible finders in accordance to the TSX-V 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. The Company also announces it has granted 250,000 options at an exercise price of $0.10. The options are exercisable for five years and will be cancelled 30 days after cessation of acting as director, officer, employee or consultant of the Company.
On Behalf of the board of directors,
Barry Brown, Director
This press release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future exploration drilling, exploration activities 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, continued availability of financing, and general economic, market or business conditions.
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.