Revolution Resources Closes Private Placement
Post# of 579
Revolution Resources Closes Private Placement
Friday 5 April 2013
Revolution Resources Corp. (TSX:RV) ("Revolution" or "the Company") is pleased to announce that it has closed a private placement financing of 7,965,428 units at a price of $0.07 per unit for gross proceeds of $557,579.96. Each unit is comprised of one common share and one-half of one share purchase warrant, where each whole warrant will entitle the holder to acquire one common share at a price $0.125 for a period of two years following the closing of the financing.
Insiders of the company have subscribed for a total of 25% of the financing including Aaron Keay, President and CEO who has acquired beneficial ownership of a total of an additional 1,429,000 units through this private placement. After the purchases referred to above, Mr. Keay and his solely-owned and -controlled company Inform Management beneficially own a total of 3,699,667 common shares, and an aggregate of 5,364,167 including options and warrants. This represents 3.74% of Revolution's issued and outstanding common shares on a non-diluted basis, and 4.36% on a fully diluted basis.
Kinross Gold Corporation ("Kinross") has subscribed for 3,571,428 units of the offering for proceeds of $249,999.96. As a result of this financing, Kinross now holds 9.67% of Revolution's issued and outstanding common shares on a non-diluted basis, and 11.67% on a fully diluted basis.
Revolution Resources Corp. is a TSX-listed exploration company (TSX:RV) based in Vancouver, BC, Canada. The Company's current exploration activities are focused on the historic belts of Mexico and the USA. Revolution is dedicated to the identification and advancement of precious and base metal deposits utilizing a prospect generator model in Mexico, while maintaining 100% ownership of its Champion Hills discovery in the Carolina Slate Belt of the southeastern USA. Further information can be found on the Company's website at www.revolutionresourcescorp.com.
Contacts:
Revolution Resources Corp.
Dylan Berg
Manager, Investor Relations
604-681-5672 direct or 604-616-1182 cell
dylan@revolutionrc.com