Saville Resources Inc. Closes $857,300 Private Placement
Vancouver, B.C. (FSCwire) - Saville Resources Inc. (TSXv: SRE) ("Saville" or the "Company") is pleased to report that it has closed the announced non-brokered private placement for gross proceeds of $857,300.
Pursuant to the offering, Saville issued 14,288,333 units (a “Unit”) at a price of $0.06 per Unit for aggregate gross proceeds of $857,300. Each Unit consists of one common share of the company and one share purchase warrant exercisable into one common share at an exercise price of $0.10 for a period of 24 months. These Units will be subject to a four month and one day statutory hold period. These Units will become exercisable on November 8th 2017.
In connection with the Private Placement, the Company paid an aggregate of $16,656 in cash commissions to three finders, equal to 8% of the gross proceeds received from investors introduced to the Company by those finders.
ON BEHALF OF THE BOARD
SAVILLE RESOURCES INC.
President and CEO
Neither the 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.
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Source: Saville Resources Inc. (TSX Venture:SRE)
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