Riverside Resources announces $3M private placement

Ted Liu

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