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Renforth Announces Option Grant and Settles Debt

C.RFR

Renforth Announces Option Grant and Settles Debt



Toronto, Ontario (FSCwire) - Renforth Resources Inc. (CSE: RFR) (“Renforth” or the “Company”) announces the granting, effective May 28, 2014, of 1,150,000 stock options to officers and directors of the Company. The options were granted pursuant to the Company’s option plan, have an exercise price of $0.06 and are exercisable for five years from the date of grant.

 

The Company also announces that it has reached an agreement with two related party creditors to settle debt in the total amount of $220,350 by the issuance of 3,672,500 common shares of the Company at a deemed price of $0.06 per share.

 

CFO Advantage Inc., a company owned by Kyle Appleby, the Chief Financial Officer of the Company, participated in the debt settlement by settling debt in the amount of $28,250 in respect of which it will receive 470,833 common shares of the Company.

 

Billiken Management Services Inc., a company that Nicole Brewster (the Company’s Chief Executive Officer) is associated with, participated in the debt settlement by settling debt in the amount of $192,100 in respect of which it will receive 3,201,667 common shares of the Company.

 

 

ABOUT RENFORTH

 

Renforth Resources Inc. is a Toronto-based exploration company with interests in two exploration assets: the previously productive New Alger property, located in the Cadillac Break Mining Camp, Québec, and the Mina Pilar Project, located SW of Madrid Spain ,also a historic producer of gold.

 

For further information please contact:

Renforth Resources Inc.

Nicole Brewster

President and Chief Executive Officer

T: (416) 368.5049   F: (416) 368.3151

E: nicole@renforthresources.com

 

No securities regulatory authority has approved or disapproved of the contents of this news release.

 



To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/renforth05282014.pdf

Source: Renforth Resources Inc. (CSE:RFR) http://renforthresources.com/

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