Regency Gold Announces Private Placement and Debt Settlement Extension
REGENCY GOLD CORP.
Suite 1703 – 595 Burrard Street Vancouver, B.C. V7X 1J1
PRESS RELEASE
For Immediate Release October 27, 2017 Vancouver, British Columbia
REGENCY GOLD ANNOUNCES PRIVATE PLACEMENT AND DEBT SETTLEMENT EXTENSION
Vancouver, BC – October 27th, 2017 - Regency Gold Corp. (RAU.H : TSX.V) (the “Company”) announces that, further to its press release dated September 20, 2017, the Company intends to complete the proposed non-brokered private placement and debt settlement by November 13, 2017.
As previously disclosed, the Company proposes to raise up to $300,000 by way of a non-brokered private placement (the “Financing”) through the issuance of up to 3,333,333 units at a price of $0.09 per unit (the “Unit”). Each Unit will consist of one common share and one common share purchase warrant (the “Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.12 for a period of one year from closing of the Financing. Proceeds of the Financing will be used for general working capital.
In addition, the Company has received verbal acceptances from certain creditors and proposes to issue up to 2,032,222 shares at a price of $0.09 per share in respect of liabilities accrued for deferred salaries to its chief executive officer and chief financial officer. This settlement will allow the Company to preserve its cash for general corporate purposes and to fund the investigation of other potential acquisitions.
The Financing and debt settlement is subject to compliance with applicable securities laws and to receipt of regulatory approval, and will not result in any new control persons.
On Behalf of the Board,
Bill Radvak President and CEO Telephone: (778) 888-4101 Email: [email protected]
“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.”
Cautionary Note Regarding Forward-Looking Statements: Certain disclosure in this release, including statements regarding the intended use of proceeds constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities legislation. In making the forward-looking statements in this release, the Company has applied certain factors and assumptions that the Company believes are reasonable, including that the Company is able to obtain any required government or other regulatory approvals, and general risks associated with business and the timing and success in the completion of private placements. However, the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors relating to Regency Gold's operation that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such uncertainties and risks may include, among others, delays in obtaining required government or other regulatory approvals or financing. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking statements. Regency Gold does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.