Riverside Resources Inc. Increases Private Placement Due to Investor Demand
Riverside Resources Inc. Increases Private Placement Due to Investor Demand
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
VANCOUVER, British Columbia, Feb. 27, 2019 -- Riverside Resources Inc. (the “Company” or “Riverside”) (TSX-V: RRI)
is pleased to announce that the Company has received exceptionally strong investor interest and intends to increase its
previously announced non-brokered private placement (see press release February 13, 2019) by an additional $800,000.
Riverside now plans to raise up to $2,300,000 in gross proceeds from the issuance of 14,375,000 units at a purchase price of
$0.16, up from the original $1,500,000 target.
Each unit consists of one common share and one whole common share purchase warrant (“Unit”). Each common share
purchase warrant is exercisable into one common share for a period of two (2) years from closing at a price of $0.22
(“Warrant”). If, at any time after four months following the closing of the private placement, the closing price of the common
shares on the TSX Venture Exchange (“TSX-V”) trades at a VWAP equal or greater than $0.45 for 10 consecutive trading days,
the Company may accelerate the expiry date of the Warrants by disseminating a press release announcing the new expiry
date whereupon the Warrants will expire on the 30th trading day after the date on which such press release is disseminated.
The Company will use the proceeds of the financing to fund a focused drill program at the Cecilia Gold Project, additional
project acquisitions and further target refinement on existing projects to advance towards new partnerships. The Company may
pay finders fees in cash or Units to qualified finders of up to 8.0% of the aggregate gross proceeds realized from subscribers
identified by the finder. The closing of the private placement is subject to TSX-V approval.
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.
About Riverside Resources Inc.:
Riverside is an exploration company driven by value generation and discovery. The Company has 45M shares issued and a
strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating
in Mexico 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 additional properties available
for option, with more information available on the Company’s website at www.rivres.com.
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 ext. 312
TF: (877) RIV-RES1 ext. 312
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"). Such
information involves known and unknown risks -- including 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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of
the date of this press release.
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.