VANCOUVER, BC, April 4,
2023 /CNW/ - Rusoro Mining Ltd. (TSXV:
RML) (the "Company") announces it has
closed a non-brokered private placement of unsecured, non-interest
bearing, promissory notes (the "Notes"). In consideration
for the Notes, the subscribers paid the Company an aggregate of
US$2,055,000.
The Notes do not have any fixed maturity date. The principal
amount payable to the subscribers under the Notes is US$8,220,000 and will only become due and payable
from proceeds received by the Company pursuant to any successful
enforcement of its arbitral award against the Bolivarian Republic
of Venezuela for its unlawful
expropriation of the Company's Venezuelan investments.
The subscribers were issued non-transferable common share
purchase warrants (the "Warrants") entitling them to
purchase an aggregate of 1,027,500 common shares (each a
"Share") at a price of US$0.10
per Share on or before April 4, 2028.
Shares acquired on exercise of the Warrants will be subject to a
four month and a day hold period expiring on August 5, 2023.
Proceeds from the private placement will be applied to payment
of legal expenses relating to the Company's ongoing activities to
enforce its arbitral award against the Bolivarian Republic of
Venezuela.
ON BEHALF OF THE BOARD
"Andre Agapov"
Andre
Agapov, President & CEO
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-looking
statements:
"This press release contains "forward-looking information"
and "forward-looking statements" within the meaning of applicable
securities laws. This information and statements address future
activities, events, plans, developments and projections. All
statements, other than statements of historical fact, constitute
forward-looking statements or forward-looking information. Such
forward-looking information and statements are frequently
identified by words such as "may," "will," "should," "anticipate,"
"plan," "expect," "believe," "estimate," "intend" and similar
terminology, and reflect assumptions, estimates, opinions and
analysis made by management of Rusoro in light of its experience,
current conditions, expectations of future developments and other
factors which it believes to be reasonable and relevant.
Forward-looking information and statements involve known and
unknown risks and uncertainties that may cause Rusoro's actual
results, performance and achievements to differ materially from
those expressed or implied by the forward-looking information and
statements and accordingly, undue reliance should not be placed
thereon.
Risks and uncertainties that may cause actual results to vary
include but are not limited to the availability of financing;
fluctuations in commodity prices; changes to and compliance with
applicable laws and regulations, including environmental laws and
obtaining requisite permits; political, economic and other risks;
as well as other risks and uncertainties which are more fully
described in our annual and quarterly Management's Discussion and
Analysis and in other filings made by us with Canadian securities
regulatory authorities and available at www.sedar.com. Rusoro
disclaims any obligation to update or revise any forward-looking
information or statements except as may be required."
SOURCE Rusoro Mining Ltd.
