News Release No. 12-01
Rainy Mountain Announces Non-Brokered Private Placements
West Vancouver, British Columbia – March 29, 2012 – Rainy Mountain Royalty Corp (the “Company” or “Rainy Mountain”) announces that, subject to regulatory approval, the Company intends to proceed with a flow through and a non-flow through non-brokered private placement. Under the flow through private placement (the “FT Private Placement”), the Company intends to raise up to $84,500 by the issuance of 1,300,000 flow through shares (the “FT Shares”) at $0.065 per FT Share. Under the non-flow through private placement (the “NFT Private Placement”), the Company intends to raise up to $65,000 by the issuance of 1,000,000 non-flow through units (the “NFT Units”) at $0.065 per NFT Unit. Each NFT Unit will consist of one common share and one-half of a share purchase warrant, with each whole warrant entitling the holder to purchase an additional common share for a period of 2 years at an exercise price of $0.09. With respect to these private placements, the Company may pay finders’ fees in the amount of 7.5%, payable in non-flow through shares, based on the sale of the FT Shares and NFT Units purchased by subscribers introduced to the Company by such finders.
The Company intends to use the proceeds from these private placements for an exploration program on the Company’s Eva Kitto Property and for general working capital purposes. The Eva Kitto Property is a “PGE” (Platinum Group Elements) exploration project and is located approximately 190 kilometres northeast of Thunder Bay, Ontario. The Property is jointly owned by Rainy Mountain (85%) and International Bethlehem Mining Corp. (15%).
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, Robert A. Young, Investor Relations, at 604-682-5123 or visit the Company’s website at www.rmroyalty.com
Rainy Mountain Royalty Corp.
“Douglas L. Mason”
Douglas L. Mason, 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 news 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 as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments 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, exploitation and exploration results, 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. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.