NR - PPMarch 12, 2010
TORCH RIVER ANNOUNCES PRIVATE PLACEMENT
Torch River Resources Ltd. (“Torch” or the “Corporation”) is pleased to announce a non-brokered private placement
of up to 4,000,000 units (the “Units”) at a price of
.05 per Unit for gross proceeds of approximately $200,000 (the
“Offering”). Up to 2,000,000 units (the “Flow-through Units”) will consist of one (1) flow-through common share in
the capital of the Corporation issued and one common share purchase warrant (a “Warrant”). The further units,
comprising of up to 2,000,000 units will consist of one (1) common share (“Common Share”) in the capital of the
Corporation issued and one common share purchase Warrant. Each Warrant will entitle the holder to purchase one
Common Share of the Corporation at an exercise price of
.10 for a period of twenty four (24) months from the closing
of the Offering. Each subscriber shall purchase Flow Through Units and non Flow Through Units in equal quantities.
Torch anticipates that Insiders of the Corporation will subscribe for over 30% of the placement.
The private placement is expected to close on or about April 12, 2010.
The proceeds of the private placement will be used as working capital to fund the continued work program on the
mineral properties held by Torch. The private placement is subject to receipt of all necessary regulatory approvals.
Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.