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Rift Valley Resources Corp. — Capital/Financing Update 2020
Sep 26, 2020
47131_rns_2020-09-25_b145d0a6-3e0c-4277-8ff3-88097a2187d2.pdf
Capital/Financing Update
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RIFT VALLEY RESOURCES
NEWS RELEASE
Rift Valley Resources Corp. Announces Closing of Non-Brokered Private Placement
Vancouver, British Columbia / September 25, 2020 - Rift Valley Resources Corp (the "Company") (CSE: RVR) announces that it has closed its non-brokered private placement (the "Private Placement") issuing a total of 8,491,500 units (the "Units") at a price of $0.05 per Unit raising gross proceeds of $424,575.
Each Unit consists of one common share (the "Shares") of the Company and one-half of one non-transferable common share purchase warrant (the "Warrants") exercisable at $0.15 per Share for a period of 2 years (the "Closing Date") from the date of issuance.
All securities issued are subject to a statutory four month hold period from the Closing Date. The net proceeds from this Private Placement will be used for continuing project development of a broadband wireless network in Crockett Texas and general and administrative costs.
About Rift Valley Resources Corp: Rift Valley Resources Ltd. is a publicly traded company listed on the Canadian Securities Exchange (CSE).
On behalf of the Board of Directors,
Griffin Jones Griffin Jones, CEO
For more information, please contact Mr. Griffin Jones 604 682 7339 or [email protected]
Neither the Canadian Securities Exchange nor its regulation services provider has reviewed or accepted responsibility for the adequacy or accuracy of the content of this news release.
Suite 501 -525 Seymour Street Vancouver, B.C. V6B 3H7 604 682 7339