Riverside Resources Announces Private Placement of $3,025,000


VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 21, 2017) – Riverside Resources Inc. (the “Company” or “Riverside”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99) is pleased to announce that it has arranged a non-brokered private placement of up to 5,500,000 units at a price of $0.55 per unit to raise aggregate proceeds of up to $3,025,000. Each unit consists of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.85 per share. The term of the warrants is subject to an accelerated exercise provision that triggers a shortened exercise period in the event that the Company’s shares trade at $1.15 or higher for 15 consecutive trading days after the expiry of four months from the issuance of the warrant but prior to the expiry of the first year of the warrant term.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s