VANCOUVER, Oct. 19 /CNW/ - Devonshire Resources Ltd., (TSX-V: DSH, OTCBB:
DSHRF) announces that it proposes to raise up to $1,260,000 through a
non-brokered private placement to pursue exploration activities, retirement of
certain debts and working capital.
The private placement will consist of 6 million units at $0.21 per unit.
Each unit will comprise one share and one warrant, each warrant entitling the
holder to purchase one share at $0.28 per share for 2 years.
A finders fee of 7% will be payable in shares. This financing is subject
to approval of the TSX Venture Exchange.
ON BEHALF OF DEVONSHIRE RE
President and Director
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. Statements in
this press release other than purely historical information, including
statements relating to the Company's future plans and objectives or expected
results, are forward-looking statements. Forward-looking statements are based
on numerous assumptions and are subject to all of the risks and uncertainties
inherent in the Company's business, including risks inherent in resource
exploration and development. As a result, actual results may vary materially
from those described in the forward-looking statements.
%SEDAR: 00021121E %CIK: 0001321847
For further information:
For further information: Tim Crowhurst President and Director, Tel:
(604) 696-6672, Email: email@example.com, www.devonshireresources.com