CALGARY, ALBERTA--(Marketwire - May 29, 2012) - Torch River Resources Ltd. (TSXV:TCR) (FRANKFURT:WNF) (TORVF) ("Torch" or the "Corporation") announces that it has closed the non-brokered private placement news released March 27, 2012 with a placement of 400,000 shares (the "Shares") at a price of $0.06 per Share for gross proceeds of $24,000. This placement (the "Flow-through Shares") comprises one (1) flow-through common share in the capital of the Corporation issued. Insiders of the Corporation subscribed for over 25% of the placement.
The common shares will have a four month hold period from the closing date of the Offering.
The proceeds of the private placement will be used to fund the work program on the mineral properties held by Torch. The private placement is subject to receipt of all necessary regulatory approvals.
The Company also announces its decision, after conducting a full due diligence program, not to pursue the Option on the Driftwood Magnesite Property located in central British Columbia. The Company had entered into a Letter of Intent on the Driftwood Magnesite Property announced in a news release March 26, 2012.
Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.
Forward Looking Information
This press release may contain forward-looking statements which may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact, including without limiting the generality of the foregoing, statements made regarding Torch's work programs. Although Torch believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give any assurance that such expectations will prove to be correct. Results of Torch including its ability to mobilize and drill on schedule may be affected by a variety of variables and risks associated with the mining industry such as availability of human and capital resources, competition, exploration and development plans and results, anticipated capital expenditures and financing thereof, timing of applications and approvals. As such the future plans and objectives of Torch are forward-looking statements that involve risks and uncertainties and may be based on assumptions that could cause actual results to differ materially from those anticipated or implied in such statements. Torch's forward-looking statements are expressly qualified in their entirety by this cautionary statement. Unless otherwise required by applicable securities laws, Torch does not intend nor does it undertake any obligation to update or review any forward-looking statements to reflect subsequent information, events, results or circumstances or otherwise.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.
|04:49 AM||ASEAN Market Review: Indonesia's & Malaysia's 1Q Growths Decelerate|
|Sun, May 19, 2013|
|10:01 PM||CORRECTION A LA SOURCE/Avis aux médias : La ministre Shea fera une annonce sur le plan axé sur des impôts bas pour les familles canadiennes|
|12:00 PM||RAPPEL/Avis aux médias : Santé Canada|
|Sat, May 18, 2013|
|07:30 PM||Santé Canada : Trois entreprises rappellent volontairement tous les lots de leurs médicaments antipsychotiques en raison d'une contamination potentielle|
|12:00 PM||Cérémonie de fin d'année au Collège militaire royal de Saint-Jean|
|08:00 AM||RAPPEL : Selon un sondage de BMO Assurance sur les voyages d'été, 83 % des Canadiens ont l'intention de prendre des vacances cet été|
|Fri, May 17, 2013|
|11:45 PM||Russell Breweries Inc. Closes Private Placement|
|10:24 PM||Med BioGene Inc. Comments on Market Activity|
|09:44 PM||OneMove Announces Shareholder Approval of Amalgamation|
|07:24 PM||Mannix Completes Shares for Debt Settlement|
|07:17 PM||Robert C. Grey: Shareholder News Release|
|07:15 PM||Woulfe Mining Provides Update|
|07:11 PM||John Anderson: Shareholder News Release|
|07:10 PM||Redwood Announces Proposed Changes to Redwood Energy Income Class|
|07:06 PM||Donald Crossley: Shareholder News Release|
|06:19 PM||Avis aux médias : Le gouvernement Harper fera une annonce concernant la recherche axée sur les découvertes scientifiques|
|06:19 PM||Media Advisory: Harper Government to Make an Announcement Regarding Scientific Discovery Research|
|05:49 PM||Northern Announces Appointment of New President & CEO|
|05:30 PM||Aurcana Corporation Clarifies Technical Disclosure|
|04:57 PM||Dundee Corporation Declares Quarterly First Preference Shares, Series 2 Dividend|
|04:57 PM||Dundee Corporation Declares Quarterly First Preference Shares, Series 1 Dividend|
|04:51 PM||Xylitol Canada Inc. Financial Results for Three Months Ended March 31, 2013|
|04:46 PM||WellStar Energy Announces No Material Change|
|04:44 PM||Le Canada continue à soutenir la lutte mondiale contre le VIH/sida|
|04:37 PM||Avis aux médias : Santé Canada|
|04:17 PM||IIROC: Resume; CORONADO RESOURCES LTD.|
|04:06 PM||Avis aux médias : Annonce du gouvernement du Canada concernant le Plan d'action pour assurer la salubrité des aliments au Canada-Photos et vidéo à la disposition des médias|
|03:50 PM||Vitreous Glass Inc. Stock Option Grant|
|03:49 PM||Verisante Completes Private Placement|
|03:12 PM||Majescor Announces the Closing of a Non-Brokered Private Placement|
|More Press Releases From Marketwired|