Rainy Mountain Closes Private Placement
News Release No: 13-11
Trading symbols: TSX-V: RMO
Rainy Mountain Closes Private Placement
West Vancouver, British Columbia – May 7, 2013 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that, further to its news release dated March 12, 2013, the Company has closed its non-brokered private placement (the “Private Placement”), which financing was fully subscribed. The Company has raised $403,500 by the issuance of 8,070,000 non-flow through units (the “Units”) at a price of $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of five years at an exercise price of $0.10. In connection with this Private Placement, finders’ fees were paid in the amount of $27,250, and as well, 545,000 finders’ warrants were issued. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on September 7, 2013.
The principal subscribers for this Private Placement were Exploration Capital Partners 2012 Limited Partnership, part of the Sprott Group of Companies, and Criterion Capital Corporation, a private investment company owned by Douglas L. Mason, the Chief Executive Officer of the Company.
The proceeds from this Private Placement will be used for exploration and property expenditures 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
2489 Bellevue Avenue, West Vancouver, BC V7V 1E1 Tel 604 922 2030 Fax 604 922 2037