Riverside Resources Inc. Announces $600,000 Charity Flow Through Private Placement for Ontario Exploration
Riverside Resources Inc. Announces $600,000
Charity Flow Through Private Placement for
Ontario Exploration
Vancouver, British Columbia--(Newsfile Corp. - February 4, 2022) -
Riverside Resources Inc.
(TSXV:
RRI) (OTCQB: RVSDF) (FSE: 5YY)
(
"
Riverside
"
or the
"
Company
"
),
is pleased to announce that it
plans to complete a non-brokered, charity flow through private placement of up to 2,857,142 common
shares at a price of $0.21 per share to raise aggregate proceeds of up to C$600,000 (the "Offering").
Riverside has no warrants outstanding and there is no warrant with the Offering.
The Company intends to use the proceeds of the Offering to fund a focused H1 2022 drill program at the
100% owned Oakes Gold Project in Ontario, Canada. Funds will also be used to follow up on trenching
and IP work completed in 2021.The mineralized zone at Oakes shows high grade gold and is similar to
the mineralization style at the Hard Rock deposit 25km to the southwest (see press release date
December 11, 2019). Riverside has progressed its projects in the Geraldton Gold Belt and now these
funds can immediately be put into mineral exploration work with a focused Ontario work program.
The Offering is subject to the acceptance of the TSX Venture Exchange (the "Exchange"). The securities
being offered have not been and will not be registered under the U.S. Securities Act of 1933, as
amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S.
persons without United States federal and state registration or an applicable exemption from registration
requirements. Finder's fees may be payable in respect of the Offering, subject to the acceptance of the
Exchange and this is a non-brokered financing
.
About Riverside Resources Inc.:
Riverside is a well-funded exploration company with over $4M in the bank and is driven by value
generation and discovery. The Company has no debt and less than 72M shares outstanding with a
strong portfolio of gold-silver and copper assets and royalties in North America. Riverside has extensive
experience and knowledge operating in Mexico and Canada and leverages its large database to
generate a portfolio of prospective mineral properties. In addition to Riverside's own exploration
spending, the Company also strives to diversify risk by securing joint-venture and spin-out partnerships
to advance multiple assets simultaneously and create more chances for discovery. Riverside has
properties available for option, with information available on the Company's website at
www.rivres.com
.
Qualified Person & QA/QC:
This news release was reviewed and approved by Freeman Smith, P.Geo, a non-independent qualified
person to Riverside Resources, who is responsible for ensuring that the geologic information provided in
this news release is accurate and who acts as a "qualified person" under National Instrument 43-101
Standards of Disclosure for Mineral Projects.
ON BEHALF OF RIVERSIDE RESOURCES INC.
"John-Mark Staude"
Dr. John-Mark Staude, President & CEO
For additional information contact:
John-Mark Staude
President, CEO
Riverside Resources Inc.
Phone: (778) 327-6671
Fax: (778) 327-6675
Web:
www.rivres.com
Raffi Elmajian
Corporate Communications
Riverside Resources Inc.
Phone: (778) 327-6671
TF: (877) RIV-RES1
Web:
www.rivres.com
Certain statements in this press release may be considered forward-looking information. These
statements can be identified by the use of forward-looking terminology (e.g., "expect"," estimates",
"intends", "anticipates", "believes", "plans") and include, without limitation, statements regarding the
completion of the Offering; the intended uses of the proceeds of the Offering; regulatory acceptance of
the Offering and the development of Riverside's projects.
Such forward-looking information involves
assumptions and known and unknown risks, including, without limitation, the availability of funds, the
results of financing and exploration activities, the interpretation of exploration results and other
geological data, or unanticipated costs and expenses and other risks identified by Riverside in its
public securities filings that may cause actual events to differ materially from current expectations set
out in the forward-looking statements.. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this press release.
Riverside disclaims
any intent or obligation to update any forward-looking information, other than as required by
applicable securities laws.
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.
THIS NEWS RELEASE IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/112777