Revolver Resources Closes Financing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 29, 2013) - Revolver Resources Inc. (TSX VENTURE:RZ) ("Revolver") is pleased to announce that it has closed its non-brokered private placement financing (the "Private Placement") announced by news release dated July 3, 2013 (the "Private Placement") for total gross proceeds of $219,500 by the issuance of 7,316,666 units at a price of $0.03 per unit. Each unit will consist of one common share of Revolver, and one transferable share purchase warrant (a "Warrant"). Each Warrant shall be exercisable to acquire one additional common share for a period of two years at a price of $0.10 per share.
The Private Placement has been approved by Revolvers' board of directors, excluding those directors that have a direct interest in the Private Placement.
The Private Placement has been conducted in accordance with the TSX Venture Exchange "Temporary Relief Measures", and proceeds will be allocated to the following: audit and accounting expenses; legal expenses; outstanding accounts payable and technical consulting expenses.
All the securities issued under the Private Placement are subject to resale restrictions under applicable securities legislation.
About Revolver Resources Inc.:
Revolver recently announced it has entered into an option agreement with Pistol Bay Mining Inc. whereby Revolver may earn a 60% interest in the Summit B property (For more information on the option agreement see the Revolver press release dated May 17th, 2013).
The 1,394 hectare (3,446 acre) Property is located in the Iskut area of northwestern British Columbia, Canada, and is contiguous with Colorado Resources Ltd.'s ("Colorado") North Rok copper-gold property (the "North Rok Property"). Colorado's recent North Rok Property discovery hole intersected 242 metres grading 0.63% copper and 0.85 g/t gold. More complete details can be found in Colorado's news release dated April 25, 2013. The Summit B property is also 20 kilometres northwest of Imperial Metals Red Chris Copper-Gold project.
Technical information in this news release has been prepared and/or revised by Michel Boily, PhD, PGeo, and qualified person as defined in NI 43-101.
For further information on Revolver please visit our website at www.revolverresources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Robert L. Birmingham, President
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICE PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.