Regulus Resources Inc. Announces Private Placement with IFC
08.08.2011 | Marketwire
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. WATERDOWN, ONTARIO -- (Marketwire - Aug. 8, 2011) - Regulus Resources Inc. (“Regulus“) (TSX VENTURE: REG) is pleased to announce that it has agreed to a private placement with IFC, a member of the World Bank Group focused on private sector investments in developing countries. The placement consists of 600,000 common shares at a price of $1.18 per share, for a total of $708,000. This financing allows IFC to increase its equity interest in Regulus back to the 14.68% that IFC held in Antares Minerals Inc. (“Antares“) prior to the spinout of Regulus from Antares in December, 2010.
Closing of the financing is subject to approval of the TSX Venture Exchange and the completion of the definitive placement agreements. All securities issued pursuant to this financing are subject to a four month hold period in accordance to Canadian securities law.
Wayne Hewgill, President and CEO of Regulus commented as follows:
“We are very pleased to see IFC showing their support for our Rio Grande project by topping up their investment in Regulus. We appreciate the support that IFC gave to our predecessor company, Antares, and its Haquira project, and look forward to continuing this relationship with IFC as we move forward on the Rio Grande project. IFC's participation will help the company maintain international best practice environmental and social practices on the Rio Grande project and neighbouring communities.“
Tom Butler, Global Head of IFC Mining commented as follows:
“Rio Grande has the potential to generate government revenues and bring jobs to northwest Argentina. The Regulus management team is committed to carrying out its exploration program following environmental and social best practices and we look forward to a long-term relationship with the company.“
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. IFC helps developing countries achieve sustainable growth by financing investment, providing advisory services to businesses and governments, and mobilizing capital in the international financial markets. In fiscal 2011, amid economic uncertainty across the globe, IFC helped our clients create jobs, strengthen environmental performance, and contribute to their local communities—all while driving their investments to an all-time high of nearly $19 billion. For more information, visit www.ifc.org.
About Regulus Resources Inc.
Regulus Resources Inc. (TSX VENTURE: REG) is a mineral exploration company formed in December 2010 in connection with the sale of Antares Minerals Inc. to First Quantum Minerals Ltd. (TSX: FM). Regulus is currently exploring the Rio Grande Cu-Au-Ag porphyry project in Salta Province of NW Argentina on a 50/50 joint-venture basis with Pachamama Resources Ltd. (TSX VENTURE: PMA).
Current Share Capital
Shares Outstanding 36,182,234 Common Shares
Shares Fully Diluted 38,746,234 Common Shares
This press release is not an offer of securities for sale or solicitation of an offer of securities for sale in the United States. The Company's securities have not been, nor will be, registered under the United States Securities Act of 1933, as amended, (the “US Securities Act“) or state securities laws and may not be offered or sold in the United States or to US persons absent registration under the US Securities Act and state securities laws or applicable exemptions from the registration requirements of such laws.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Press Release.
Contact Information
Regulus Resources Inc.
Wayne Hewgill, P.Geo
President / CEO / Director
+1 778 438-2481
Regulus Resources Inc.
John Black
Director
+1 720 514-9036