Rainy Mountain Closes Third (Final) Tranche of Non-Brokered Private Placements
West Vancouver, British Columbia – January 17, 2018 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that, further to its news releases dated November 7, December 6, December 15 and December 28, 2017, Rainy Mountain has closed the third and final tranche of its non-brokered flow through and non-flow through private placements (the “Private Placements”). Under the first and second tranches, the Company raised an aggregate of $250,000 by the issuance of 5,000,000 flow through units (the “FT Units”) at $0.05 per FT Unit, and under the third tranche, the Company has raised an additional $50,000 by the issuance of 1,000,000 non-flow through units (the “NFT Units”) at a price of $0.05 per NFT Unit. Each NFT Unit consists of one non-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 five years at an exercise price of $0.07 and each FT Unit consists 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. All of the securities issued pursuant to the third tranche of the Private Placements are subject to a hold period expiring on May 18, 2018.
The Company intends to use the proceeds from the Private Placements for furthering exploration on its optioned gold exploration Brunswick Property in Ontario and for general working capital purposes.
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, Chief Executive Officer
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
FORWARD LOOKING STATEMENTS
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.