Vancouver, BC – July 18, 2014: 92 Resources Corp. (TSX-V: NTY) (the “Company”) is pleased to announce that further to the Company’s news release dated June 25, 2014, the Company has closed the Non-Brokered Private Placement Financing (the “Private Placement”) for gross proceeds of $492,460.
The Company has allotted and issued 8,207,667 units (the “Units”) at a price of $0.06 per Unit. Each Unit consists of one common share in the capital of the Company and one share purchase warrant (the “Warrant”). Each Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of two years from issuance at an exercise price of $0.10 per share. The Units are subject to a four-month and one-day hold period.
In addition, the Company has paid a finder’s fee of an aggregate $11,742 and 195,700 finder’s warrants (the “Finder’s Warrants”) to registered dealers. Each Finder’s Warrant is exercisable by the holder to acquire one additional common share of the Company for a period of two years from issuance at an exercise price of $0.10 per share. The Finder’s Warrants are also subject to a four-month and one-day hold period.
The Company intends to use the net proceeds from the Private Placement to finance exploration work program on the company’s properties and for general working capital.
For further information, please contact Adrian Lamoureux, President, at firstname.lastname@example.org or visit www.92resources.com.
ON BEHALF OF THE BOARD OF DIRECTORS
President and CEO
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