Riverside Resources announces $3M private placement

Riverside Resources Inc. (TSX-V: RRI; OTCPK: RVSDF; FSE: R99), a Prospect Generator with project in Mexico, USA and Canada, has arranged a non-brokered private placement of up to 5,500,000 units at a price of $0.55 per unit for gross proceeds of up to $3,025,000.

Each unit consists of one common share and one half of one common share purchase warrant. Each whole common share purchase warrant is exercisable into one common share for a period of two years from closing at a price of $0.85 per share, subject to an accelerated expiry.

Riverside Resources will use the proceeds of the financing to fund a first phase exploration program at the Cecilia Gold Project, additional project acquisitions and general corporate purposes.

photo credit: Riverside Resources

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.