Vancouver (pcJ News Briefs) – Revelo Resources Corp. (TSX-V: RVL) intends to complete a private placement of 40,000,0000 units at $0.05 per unit for gross proceeds of up to $2,000,000.
Each unit will consist of one common share and one non-transferable share purchase warrant. Each warrant will entitle the holder to purchase one share at a price of $0.11 per share for a period of two years from the closing date.
Revelo expects to use the proceeds of the private placement to conduct exploration activities on its properties and for general working capital and other corporate purposes.
Revelo Resources has consolidated an outstanding portfolio of 25 projects prospective for copper, gold and silver located along proven mineral belts in one of the world’s top mining jurisdictions – Chile. Revelo’s total exposure to mineral tenements in northern Chile is around 300,000 hectares, of which about 60,000 hectares (2 projects) are subject to 3rd party exploration expenditures.
photo credit: Revelo Resources