Riverside Resources Inc. Offering Oversubscribed by $416,552

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/866-tsx-venture/rri/30212-riverside-resources-inc-offering-oversubscribed-by-416-552.html

Riverside Resources Inc. (“Riverside” or the “Company”) (TSX VENTURE:RRI)(OTC PINK:RVSDF)(FRANKFURT:R99) is pleased to announce that its previously announced private placement of up to 5,500,000 units at $0.55 per unit has been oversubscribed. The Company has now closed subscriptions at 6,257,367 units for total proceeds of $3,441,552, an oversubscription of 757,367 units and $416,552.

Each unit will consist of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant will be 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.

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