VANCOUVER, BC / ACCESSWIRE / May 9, 2014 / Rhys Resources Ltd. (the "Company") is pleased to announce that the Company has completed its non-brokered private placement offering (the "Offering") of units of the Company (the "Units") at a price of $0.05 per Unit. Under this Offering, the Company sold an aggregate 1,100,000 Units for gross proceeds of $55,000.
Each Unit is comprised of one Common Share and one transferable Share Purchase Warrant, each Warrant entitling the holder to purchase one additional Common Share of the Company at $0.05 per share for a period of 12 months.
Net proceeds from the private placement will be used for general working capital purposes.
All of the securities issued under the Offering are subject to a statutory hold period expiring September 9, 2014 in accordance with applicable Canadian securities laws.
RHYS RESOURCES LTD. "Robert Bailey"
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the polices of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Rhys Resources Ltd.