CALGARY, Aug. 8 /CNW/ - Vital Resources Corp. ("Vital") (CNQ Exchange -
VITL; Frankfurt Stock Exchange - VZN) is pleased to announce a non-brokered
private placement to raise gross proceeds of up to CAD $ 500,000.00. Under the
terms of the private placement, the company will offer for sale a maximum of
10 million units at CAD $ .05 per unit. Each unit will consist of one common
share of the company and one-half of a share purchase warrant. Each whole
warrant will allow the subscriber to purchase one additional common share of
the company at CAD $0.10 for one year from the closing date of the placement.
Proceeds from the private placement will be used to advance the Cameroon
bauxite project, including a NI 43-101 report to verify past work done, for
which the company has recently signed a memorandum of understanding.
Vital Resources is a Calgary based international resource development and
exploration company focused building and developing shareholder value.
The CNQ Exchange does not accept responsibility for the adequacy or
accuracy of this release.
For further information:
For further information: Michael Whitehead, President & CEO, Vital
Resources Corp.; Kevin Worth, Investor Relations, Phone: (403) 668-1645,
Email: firstname.lastname@example.org, Website: www.vitalrescorp.com