Saville Resources Inc. Announces Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES NOR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, B.C. (FSCwire) - Saville Resources Inc. (TSXv: SRE, FSE: S0J) (the "Company") is pleased to announce that it has arranged a non-brokered private placement. The arrangement is for up to 1,250,000 units (“Units”) of the Company at a price of $0.08 per Unit for gross proceeds of up to $100,000. Concurrently the Company will also be offering up to 4,000,000 flow-through units (“FT Units”) at a price of $0.10 per FT Unit for gross proceeds of up to $400,000. Certain insiders of the Company intend to participate in the financing.
Each Unit will consist of one common share and one share purchase warrant. Each FT Unit will consist of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.15 per share for a period of 24 months from closing.
Proceeds of the private placement will be used for advancement of the Company’s exploration projects and for general corporate purposes. The Company may pay finder’s fees in connection with the issuance of the Units under the financing. Closing of the financing is subject to all regulatory approvals, including the approval of the TSX Venture Exchange. The securities issued in connection with the financing will be subject to a four-month hold period from the date of closing in accordance with applicable securities legislation.
ON BEHALF OF THE BOARD
SAVILLE RESOURCES LTD.
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.
To view this press release as a PDF file, click onto the following link:
Source: Saville Resources Inc. (TSX Venture:SRE)
To follow Saville Resources Inc. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. https://www.fscwire.com
Copyright © 2017 FSCwire