TORONTO, Sept. 25 /CNW/ - Loncor Resources Inc. (the "Company" ) (TSX-V Symbol: "LN") announces that, further to its August 10, 2009 press release, it has closed a non-brokered private placement of 3,000,000 common shares of the Company at a price of Cdn$0.75 per share for proceeds to the Company of Cdn$2,250,000. The Company intends to use the proceeds from this financing (the "Financing") for working capital and general corporate purposes.
The said shares issued by the Company under the Financing are subject to a four month "hold period" and the resale rules of applicable securities legislation.
The securities offered have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful.
Neither 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 release.
SOURCE LONCOR RESOURCES INC.
For further information: For further information: please visit our website at www.loncor.com or contact: Arnold T. Kondrat, Chairman of the Board, Telephone: (416) 366-2221 or 1-800-714-7938