VANCOUVER, Jan. 8 /CNW/ - Tri-River Ventures Inc. (TSX.V Symbol: TVR.V) announces that it has negotiated a non-brokered private placement of up to $4,800,000, consisting of up to 12,000,000 units at $0.40 per unit. Each unit will consist of one common share in the capital of the Company and one-half (1/2) of a share purchase warrant. For every warrant held, the holder will be entitled to purchase one (1) additional share in the capital of the Company at $0.60 per share for a two-year period. The proceeds from the private placement will be used to fund ongoing exploration activities at the Company's Lianlong property in Sichuan, China, and to fund the identification and acquisition of new mineral resource properties, particularly properties located in Asia. Finder's fees are expected to be payable in connection with the private placement. This financing is subject to regulatory approvals and may be subject to the approval by the Company's shareholders. The securities to be issued will be subject to a minimum four-month hold period from the date of closing.
Y. B. Ian He
President & CEO
Tri-River is a Canadian based exploration company focussed on acquisition, exploration and development of mineral resource properties. The Company is currently exploring its 95% owned Lianlong mineral property in Sichuan province, China. Tri-River's shares are listed on the TSX Venture Exchange under the symbol TVR.
This press release contains forward-looking statements based on current expectations. Forward-looking statements entail various risks and uncertainties that could cause actual events or results to differ materially from those reflected in forward-looking statements. Risks and uncertainties about Tri-River's business are more fully discussed in Tri-River's disclosure materials under the heading "Risk Factors" and elsewhere in Tri-River's MD&A, Financial Statements and other periodic filings with Canadian securities regulators and on SEDAR. The Company does not assume any obligation to update forward-looking statements.
SOURCE TRI-RIVER VENTURES INC.
For further information: For further information: Y.B. Ian He, (604) 306-5867; Michael Woods, (604) 925-0551