VANCOUVER, Dec. 11 /CNW/ - Devonshire Resources Ltd., (TSX-V: DSH, OTCBB:
DSHRF) announces that it has completed a non-brokered private placement. The
funds raised will be used to pursue exploration activities, retirement of
certain debts and for general working capital.
The private placement consists of 2.4 million units at $0.21 per unit,
for initial proceeds of $504,000. Each unit will comprise one common share and
one share purchase warrant, each warrant entitling the holder to purchase one
common share at $0.28 per share for 2 years from the date of acceptance by the
TSX Venture Exchange.
A 7% finders fee is payable totalling 137,200 shares. This financing is
subject to the 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