Rainbow Resources Announces Non-brokered Financing
July 10 2013 - 1:34PM
Access Wire
Mr. David W. Johnston reports:
TORONTO, ONTARIO, July 10, 2013: Rainbow
Resources Inc. ("RBW" - TSX.V:, "RIINF" - OTCQX: ) ("Rainbow" or
the "Company") announces that it intends to complete a non-brokered
financing to raise approximately $500,000.
The financing will be comprised of
units at $0.05 and flow through units at $0.05. Units will include
one warrant which will entitle the holder to acquire one additional
common share at $0.10 for a period of 18 months. Flow through units
will include one half of a warrant in which a full warrant will
entitle the holder to acquire one additional common share at $0.10
for a period of 18 months. In connection with this financing,
Rainbow will be paying to registered agents a commission of 8% cash
and 8% broker warrants.
The proceeds of this financing will
be used to continue exploration on the Company's gold and silver
properties in the Slocan Valley (the Gold Viking, Referendum and
Whitewater), in Nevada (the Jewel Ridge) and further prospecting
and geochem analysis on the prospective graphite property adjacent
to Eagle Graphite Corp's processing facility also in the Slocan
Valley area of south-eastern British Colombia and for general
working capital purposes.
Rainbow also announces that it is
current with its option payments on the Jewel Ridge gold property
in Nevada and planning is now underway to carry out a fall drilling
program.
Qualified
Person
Rainbow's disclosure of a technical
or scientific nature in this news release has been reviewed and
approved by Mr. Jim Decker, P.Eng., a director of Rainbow who
serves as a qualified person under the definition of National
Instrument 43-101.
For further information: President
David W. Johnston - (403) 701-2781.
Latest News: http://stocknetworkmedia.com/rainbow-resources-inc/
About
Rainbow Resources
Rainbow is a Canadian-based junior
exploration company focused on building shareholder wealth through
aggressive exploration in two favorable and proven mining
jurisdictions - the West Kootenays in southeast British Columbia
(silver, gold and flake
graphite), and Nevada where Rainbow's Jewel Ridge
Gold-Silver Project is in
the heart of a major producing district. Rainbow's shares are
listed for trading on the TSX Venture Exchange under the symbol
RBW.V, and on the OTCQX International under the symbol RIINF.
Rainbow has 45,720,052 common shares issued and outstanding.
Caution
Regarding Forward-Looking Information
This news release
includes certain information that may constitute "forward-looking
information" under applicable Canadian securities legislation.
Forward-looking information includes, but is not limited to,
statements about strategic plans, future work programs and
objectives and expected results from such work programs.
Forward-looking information is necessarily based upon a number of
estimates and assumptionsthat, while considered reasonable, are
subject to known and unknown risks, uncertainties, and other
factors which may cause the actual results and future events to
differ materially from those expressed or implied by such
forward-looking information and the risks identified in the
Company's continuous disclosure record. There can be no assurance
that such information will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such information. Accordingly, readers should not place undue
reliance on forward-looking information. All forward-looking
information contained in this news release is given as of the date
hereof and is based upon the opinions and estimates of management
and information available to management as at the date hereof. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
Neither the TSX Venture Exchange nor
its Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy of this news release.
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