Saville Resources Inc V.SRE

NEWS https://www.fscwire.com/newsrelease/saville-resources-i

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Saville Resources Inc. Closes First Tranche of Financing
Tuesday, August 14, 2018

Vancouver, British Columbia (FSCwire) - Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the “Company” or “Saville”) is pleased to announce that it has closed the first tranche of its non-brokered private placement (the “Private Placement”).  The Company issued 10,270,000 units (“Units”) at a price of $0.05 per share for gross proceeds of $513,500, and 6,070,000 flow-through shares (“FT Shares”) at a price of $0.06 per share, for gross proceeds of $364,200, for total gross proceeds of $877,700.

 

Each Unit consists of one common share and one share purchase warrant (“Warrant”). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 per share for a period of 24 months from August 9, 2018.

 

Proceeds of the private placement will be used for advancement of the Company’s exploration projects and for general corporate purposes. Certain insiders of the Company participated in the financing. 

 

In connection with the completion of the Private Placement, the Company has paid a finder’s fee in the amount of $21,120.  Securities issued pursuant to the Private Placement are subject to a four month hold period expiring December 10, 2018.

 

On Behalf of the Board of Directors

SAVILLE RESOURCES INC. 

 

“Mike Hodge”

Mike Hodge

President

Tel:  [phone]

 

https://www.fscwire.com/newsrelease/saville-resources-inc-closes-first-tranche-financing