Rapier Gold Inc. Closes First Tranche of Private Placement

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Rapier Gold Inc. (TSX VENTURE:RPR) (the "Company") has closed the first tranche
of the previously announced non-brokered private placement (the "Offering"). 


The Company will issue 2,408,231 flow through units (the "FT Units") and
1,300,000 non-flow through units (the "NFT Units") for gross proceeds of
$221,535. A finder's fee in the amount of $7,002 and 107,730 compensation
warrants are payable in respect of this tranche of the private placement.


The Company invites existing shareholders to participate in the second tranche
of the private placement, anticipated to close on or about December 18, 2013.


The Offering consists of FT Units and NFT Units at a price of $0.065 per FT Unit
and $0.05 per NFT Unit. Each FT Unit or NFT Unit consists of one common share
and one non-transferable common share purchase warrant. Each warrant entitles
the holder to purchase one common share at an exercise price of $0.10 for 12
months following completion of the Offering. Should the Company's common shares
trade on the TSX Venture Exchange at a weighted average price of greater than
$0.15 for any ten consecutive trading day period, the Company may, on written
notice to the holders of the Warrants, reduce the exercise period of the
Warrants to a date that is not less than 30 days from the date of the notice.


The shares are subject to a statutory four month hold period expiring April 7, 2014.

The proceeds from the issuance of the FT Units will qualify as Canadian
exploration expenses which will be renounced to investors effective December 31,
2013. The Company will use the net proceeds of the Offering for expenditures on
the Company's Pen Gold Project, located 75 km south west of Timmins, Ontario,
and for general working capital.


Directors and an officer of the Company have acquired one million NFT units of
the private placement. Such participation is considered to be a "related party
transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The
transaction will be exempt from the formal valuation and minority shareholder
approval requirements of MI 61-101 as neither the fair market value of any
shares issued to, or the consideration paid by such persons, will exceed 25% of
the Company's market capitalization.


Pen Gold Project Summary



--  The Company's activities are focused on exploring for gold on the Pen
    Gold Project which comprises 16,448 hectares (approximately 160 sq km),
    75 km southwest of Timmins, Ontario, in close proximity to the western
    extension of the Porcupine-Destor Deformation (Fault) Zone, one of the
    most productive gold structures in the world. 
    
--  In May, The Company completed a thirteen hole drill program of 4,350 m,
    focused on four key areas of the project; Westgate Area, Porphyry Hill
    Area, Midway Area and Talc Mine Area. Details are outlined in the
    Company's press releases dated June 24, 2013 and July 25, 2013. 
    
--  In June, a Light Detection and Ranging survey ("LIDAR") was flown over
    all of the Pen Gold South area and results were received in mid-July.
    The LIDAR base maps are used in prospecting and mapping as guides to
    locate areas of rock outcrop, avoidance of swamps and general access. 
    
--  From July to September, the Company completed mapping and prospecting
    over approximately 4,100 hectares, or approximately 25%, of the property
    which identified two new trends and a new area with historical work; 
    
    --  The Westgate Trend extending approximately 3.5 km east west from the
        two holes drilled at Westgate, 
        
    --  The Porphyry Hill Trend extending 2km east of the one hole drilled
        at Porphyry Hill, and 
        
    --  The Nib Yellowknife area located 2km south of the Talc Mine Area 
        
        Results from this work were outlined in Rapier's press releases
        dated September 5, 2013 and October 7, 2013.



ON BEHALF OF THE BOARD OF DIRECTORS 

Roger Walsh, President & CEO

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 news release.


Cautionary Note Regarding Forward Looking Statements: Certain disclosure in this
release constitutes forward-looking statements. In making the forward-looking
statements in this release, the Company has applied certain factors and
assumptions that are based on the Company's current beliefs as well as
assumptions made by and information currently available to the Company,
including that the Company is able to obtain any government or other regulatory
approvals required to complete the private placement and Company's planned
exploration activities, that the Company is able to complete the private
placement, that the Company is able to procure personnel, equipment and supplies
required for its exploration activities in sufficient quantities and on a timely
basis and that actual results of exploration activities are consistent with
management's expectations. Although the Company considers these assumptions to
be reasonable based on information currently available to it, they may prove to
be incorrect, and the forward-looking statements in this release are subject to
numerous risks, uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such forward-looking
statements. Such risk factors include, among others, that the private placement
will not be completed, that actual results of the Company's exploration
activities will be different than those expected by management and that the
Company will be unable to obtain or will experience delays in obtaining any
required government approvals or be unable to procure required equipment and
supplies in sufficient quantities and on a timely basis. Readers are cautioned
not to place undue reliance on forward-looking statements. The Company does not
intend, and expressly disclaims any intention or obligation to, update or revise
any forward-looking statements whether as a result of new information, future
events or otherwise, except as required by law.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Rapier Gold Inc.
Roger Walsh
(604) 617-1627
roger@rapiergold.com
www.rapiergold.com
Rapier Gold Inc. (TSXV:RPR)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024