pp @ 0.30Big guys want to get in & don't want to pay retail don't like it but as a retail investor cant do anything. I will add more if falls below $.30.
January 20,
2010
Riverstone Announces Non-Brokered Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 20, 2010) -
NOT FOR DISSEMINATION IN THE USA OR THROUGH US NEWSWIRE SERVICES
Riverstone Resources Inc. (TSX VENTURE:RVS)(FRANKFURT:3RV) is pleased to announce a non-brokered private placement for up to 6 million units ("Units") of the Company at a price of C
.30 per Unit for aggregate gross proceeds of up to C$1,800,000. Each Unit will consist of one common share of the Company and one non-transferable share purchase warrant, each share purchase warrant is exercisable to purchase one additional common share of the Company at a price of C
.40 per share for a period of one year following closing and at a price of
.60 during the second year following closing.
The Company may pay finders' fees and commission in connection with the private placement in cash and/or securities of the Company in accordance with the policies of the TSX Venture Exchange.
Proceeds of the financing will be used for working capital and exploration of the Karma project.
Certain directors and officers of the Company may acquire securities under the private placement on the same terms as arm's length investors. Any such participation would be considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of any securities issued to or the consideration paid by such persons will exceed 25% of the Company's market capitalization. The financing is subject to the approval of the Exchange.
ON BEHALF OF THE BOARD
Michael D. McInnis, P.Eng., President & CEO
Neither 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.
CONTACT INFORMATION:
Riverstone Resources Inc. - Vancouver Office
Michael D. McInnis
President
604-801-5020
or
Riverstone Resources Inc.
Raju Wani
Investor Relations
403-240-0555
or
Riverstone Resources Inc.
Ron Cooper
Investor Relations