Rainy Mountain Announces Non-Brokered Private Placement
West Vancouver, British Columbia, November 7, 2017 –Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) announces, subject to regulatory approval, that it intends to proceed with a flow through non-brokered private placement (the “FT Offering”) to raise up to $250,000 by the issuance of 5,000,000 flow through units (the “FT Units”) at $0.05 per FT Unit. Each FT Unit will consist of one flow through common share and one non-flow through share purchase warrant, with each warrant entitling the holder to purchase an additional non-flow through common share for a period of two years at an exercise price of $0.10.
With respect to the FT Offering, the Company may pay finders’ fees in the amount of 10% (payable in cash or non-flow through units), based on the sale of the FT Units purchased by subscribers introduced to the Company by such finders.
The Company intends to use the proceeds from this private placement for furthering exploration on its optioned gold exploration Brunswick property in Ontario.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.rmroyalty.com.
Rainy Mountain Royalty Corp.
“Douglas L. Mason”
Douglas L. Mason, President & CEO
Neither the 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
This release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters, including the use of proceeds of the private placement, are forward-looking statements. Forward-looking statements are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “suspects”, “intends”, “estimates”, “projects”, ”targets”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. 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 may differ materially from those expressed in, or implied by, this forward looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices for the Company’s anticipated products, regulatory approvals required for the Company’s business plans, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date such statements were made and are subject to change after that date and the Company does not undertake any obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.
This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.