VANCOUVER, BC: Rhys Resources Ltd. (the "Company") announces that it has arranged, subject to regulatory approval, a non-brokered private placement of up to 7,000,000 units of the Company at a price of $0.05 per unit for gross proceeds of up to $350,000. Each unit is to consist of one common share and one transferable common share purchase warrant exercisable at $0.05 for a period of five years. Net proceeds from the private placement will be used for general working capital purposes.
Closing of the Offering is subject to the receipt of all necessary corporate and regulatory approvals, including the TSX Venture Exchange.
RHYS RESOURCES LTD.
Scott Parsons - CEO & President
Neither the TSX Venture Exchange nor its Regulation Service 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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