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Rift Valley Resources Corp. — Capital/Financing Update 2020
Dec 22, 2020
47131_rns_2020-12-22_ee8e9794-7725-434b-9777-989da5076d9a.pdf
Capital/Financing Update
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FORM 51-102F3 MATERIAL CHANGE REPORT
Item 1: Name and Address of Reporting Issuer
Rift Valley Resources Corp. (the “ Company ”) 804 – 750 W Pender Street Vancouver BC V6C 2T7
Item 2: Date of Material Change
December 18, 2020.
Item 3: News Release
A news release was issued and disseminated on December 22, 2020 and filed on SEDAR (www.sedar.com).
Item 4: Summary of Material Changes
The Company announced that it has closed its non-brokered private placement (the “ Private Placement ”). See Item 5 for further details.
Item 5: Full Description of Material Change
The Company announced closed its Private Placement issuing a total of 4,400,000 units (the “ Units ”) at a price of $0.05 per Unit raising gross proceeds of $220,000.
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.
Item 6: Reliance on subsection 7.1(2) or (3) of National Instrument 51-102
Not applicable.
Item 7: Omitted Information
None.
Item 8: Executive Officer
Griffin Jones, CEO
For more information, please contact Mr. Griffin Jones 604 682 7339 or [email protected].
Item 9: Date of Report
December 22, 2020.