NEWS GLTA,
Rusoro Announces $1,250,000 Private Placement and Appointment of Anthony Beruschi to the Board of Directors
/NOT FOR DISTRIBUTION TO UNITED STATES SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
VANCOUVER, BC, Aug. 29, 2022 /CNW/ - Rusoro Mining Ltd. (TSXV: RML) (the "Company" or "Rusoro") is pleased to announce a non-brokered private placement (the "Financing") of up to 20,000,000 units (each, a "Financing Unit") at a price of $0.0625 per Financing Unit for gross proceeds of up to $1,250,000. Each Financing Unit will consist of one common share of the Company, and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to acquire one additional share at a price of $0.10 for a period of five (5) years. There will be one placee associated with the financing, Anthony Beruschi.
The Company is also pleased to announce that Mr. Anthony Beruschi, B.Sc., LLB has agreed to become a director of the Company effective immediately.
A senior securities, mining and corporate lawyer, Mr. Beruschi's Venezuela experience began before the world famous Kilometre 88 gold rush of the 1990's where his leadership as legal counsel and the director working with Venezuelan owners of resource property interests, local banking groups and financiers on behalf of a Canadian mineral resource company were instrumental in that company's Kilometer 88 acquisition successes. A member of the Law Society of British Columbia, his includes complex litigation resulting from Canadian and international expropriation of mineral property interests and rights. Mr. Beruschi brings over 35 years of international project management, investing and dispute resolution experience as a lawyer, corporate director, officer, manager and venture capitalist for Canadian based resource companies to the Company. Mr. Beruschi has been a long term investor in the Company.
Mr. Beruschi will be replacing Abraham Stein, who resigned from the Board of Directors effective August 29th, 2022. The Company would like to thank Mr. Stein for his service and wishes him well in his future endeavours.
The securities issued in connection with the Financing are subject to regulatory approval.