REV PRRegent Ventures closes $100,000 private placement
Ticker Symbol: C:REV
Regent Ventures closes $100,000 private placement
Regent Ventures Ltd (C:REV)
Shares Issued 76,152,255
Last Close 7/21/2010
.085
Thursday July 22 2010 - News Release
Mr. Douglas Eacrett reports
PRIVATE PLACEMENT CLOSES
Regent Ventures Ltd. has closed its $100,000 private placement, as reported in Stockwatch June 18, 2010, of up to 1,666,666 units of its securities at a price of six cents per unit, each unit consisting of one flow-through common share and one non-transferable share purchase warrant, with each such warrant entitling the holder to purchase one additional non-flow-through common share of the company at a price of 15 cents per share for one year. Should the Company's common shares trade at or above trading price of
.20 per share for twenty consecutive trading days, the Company will have the right to issue a written notice that the Warrants will expire 30 days from providing such notice.
The shares comprised in the 1,666,666 units and any shares underlying the warrants comprised in the units are subject to a hold period and may not be traded until November 20, 2010.
Louisiana Project
The Operator on the Louisiana project has reported that all necessary permits have been obtained and that the work of building up the bed of the access road to support the weight of the drilling rig is underway. The drill rig is planned to be on the property in approximately three weeks. We will provide further updates as more information is available.
EuroGas, Inc.
Regent is advised that EuroGas, Inc. is continuing to move ahead its proposed sale of certain of its oil and gas interests and the related financing of its operations and, due to circumstances in Europe, has requested an extension for closing its transaction with Regent. Accordingly, Regent has agreed with EuroGas to a thirty day extension of the date for the final payment of $3,000,000 due from EuroGas, Inc. to July 31, 2010. In consideration of the further extension, EuroGas, Inc. has agreed to issue to Regent an additional 1,000,000 shares in the capital of EuroGas, free of any legend or restriction from trading,