RIA RESOURCES CORP. ANNOUNCES NON-BROKERED PRIVATE PLACEMENT
May 19 2011 - 5:10PM
PR Newswire (Canada)
CALGARY, May 19 /CNW/ -- CALGARY, May 19 /CNW/ - Ria Resources
Corp. ("RIA" or the "Corporation") is pleased to announce a
non-brokered private placement for aggregate gross proceeds of up
to $1,500,000 comprised of up to $1,000,000 in common shares issued
on a flow-through basis ("Flow-Through Shares") at a price of $0.20
per Flow-Through Share and $500,000 common shares ("Common Shares")
at a price of $0.10 per Common Share (together referred to as the
"Offering"). The proceeds of the Offering will be used for
corporate overhead and working capital to fund the continued work
program on the properties held by RIA. The Offering is subject to
the receipt of all necessary regulatory approvals. The Flow-Through
Shares and Common Shares will be offered in Alberta by way of a
private placement. There will be no minimum to the
Offering. Although insiders may participate in the Common
Share portion of the Offering, it is not anticipated that
participation of insiders, if any, will exceed in aggregate 25% of
the Offering. The securities issued pursuant to the Offering
will be subject to a four (4) month hold period in Canada from the
date of the closing of the Offering. The Offering is expected
to close on or about June 30, 2011. RIA is a company listed and
trading on the TSX Venture Exchange, symbol: RIA. This news release
does not constitute an offer to sell or a solicitation of an offer
to buy any of the securities in the United States. The offered
securities mentioned in this news release will not be registered
under the United States Securities Act of 1933, as amended (the
"U.S. Securities Act") and may not be offered or sold within the
United States or to, or for the account or benefit of U.S. persons
except in certain transactions exempt from the registration
requirements of the U.S. Securities Act. This news release shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities in any jurisdiction. Forward Looking Statements
This press release contains forward looking statements. More
particularly, this press release contains statements concerning the
anticipated use of the proceeds of the Offering and date of
prospective closing. Although RIA believes that the expectations
reflected in these forward looking statements are reasonable, undue
reliance should not be placed on them because RIA can give no
assurance that they will prove to be correct. Since forward looking
statements address future events and conditions, by their very
nature they involve inherent risks and uncertainties. The intended
use of the proceeds of the Offering by RIA might change if the
board of directors of RIA determines that it would be in the best
interests of RIA to deploy the proceeds for some other purpose. The
forward looking statements contained in this press release are made
as of the date hereof and RIA undertakes no obligations to update
publicly or revise any forward looking statements or information,
whether as a result of new information, future events or otherwise,
unless so required by applicable securities laws. 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 or accuracy of this release. To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/May2011/19/c6322.html p
Glenn Hamiltonbr/ Chief Financial Officerbr/ Ria Resources Corp.br/
Telephone No. (403) 510-0844 /p
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