Rio Cristal Closes Units for Debt and Private Placement

VANCOUVER, April 29, 2015 /CNW/ - Rio Cristal Resources Corporation (TSXV:RCZ) ("Rio Cristal" or the "Company") announces the closing of the Units for Debt Transaction ("Debt Transaction") and private placement (the "Private Placement') approved by the Shareholders on February 26, 2015.

In connection with the Debt Transaction, the Company issued 25,618,106 units for debt (each a "Debt Unit") at a deemed price of $0.05 per Debt Unit.  Each Debt Unit is comprised of one common share and one common share purchase warrant (a "Debt Warrant"), to settle an aggregate debt of $1,280,905.36 owing to 25022011 Ltd. (formerly Augusta Investments Inc. ("2502011") and Iris Consulting Limited ("Iris"). The Debt Warrants will have an exercise price of $0.05 per common share and will be exercisable for a period of five years expiring on April 29, 2020.  The Debt Units are subject to escrow as required by policy 5.4 of the TSX Venture Exchange.

As part and parcel of the Debt Transaction, the Company completed a non-brokered private placement for $200,000 under which the Company issued 4,000,000 units ("Private Placement Units") at a deemed price of $0.05 per Private Placement Unit. Each Private Placement Unit is comprised of one common share and one common share purchase warrant (a "Private Placement Warrant"). The Private Placement Warrants have an exercise price of $0.08 per common share for a period of three years expiring on April 29, 2018. As required under securities regulations, the securities (and all underlying securities) issued in connection with the Private Placement Units are subject to a four month hold period expiring on August 30, 2015. The proceeds of the Private Placement Units will be used to fund general corporate purposes.

About Rio Cristal Resources Corporation

Rio Cristal Resources Corporation is a Canadian company listed on the TSXV under the symbol RCZ.

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.

This release contains forward-looking statements as that term is used in Canadian securities law. Often, but not always, forward-looking statements can be identified by the use of words such as "expected", "will" or variations of such words and phrases. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties. Examples of forward-looking information in this news release include, but are not limited to, statements with respect to the use of proceeds.  For additional information on risks and uncertainties, see the Company's MD&A for the year ended March 31, 2014, which is available on SEDAR at www.sedar.com. The risk factors identified in the Company's annual MD&A are not intended to represent a complete list of factors that could affect the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company does not assume any obligation to update the forward-looking information contained in this press release.

SOURCE Rio Cristal Resources Corporation

For further information: please contact the Company via email at contact: Margaret Brodie at mbrodie @augustacorp.com

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Rio Cristal Resources Corporation

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