/NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OR TO
UNITED STATES NEWS WIRE SERVICES./
TSX VENTURE: RRX
CALGARY, April 4 /CNW/ - Ruby Red Resources Inc. ("Ruby Red") is pleased
to announce that it has completed the first tranche of its previously
announced private placement of units ("Units"). Ruby Red issued 1,200,000
Units at a price of $0.25 per Unit for gross proceeds of $300,000. Each Unit
consisted of one common share and one common share purchase warrant of Ruby
Red with each warrant entitling the holder to purchase one additional common
share of Ruby Red at a price of $0.35 per share for a period of 18 months from
the closing of the offering. All of the common shares issued under the private
placement are subject to a four-month hold period in Canada, which will expire
on August 4, 2007. The net proceeds from this offering will be used to fund
Ruby Red's exploration, development and acquisition programs as well as for
general corporate purposes.
Ruby Red was formed to participate in the acquisition, exploration and
development of mineral claims in the Fort Steele Mining Division of British
Columbia for the purpose of exploring for precious and base metals. Ruby Red
holds 100% working interests in 135 mineral claims (approximately 40,000
hectares), all located within 35 kilometres of Cranbrook, B.C. in the Purcell
and Rocky Mountains.
Except for statements of historical fact, this news release contains
certain "forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized by
words such as "plan", "expect", "project", "intend", "believe", "anticipate",
"estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are made, and
are subject to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from those
anticipated in the forward-looking statements, which include but are not
limited to risks inherent in the mining industry, regulatory and economic
risks, and risks associated with the company's ability to implement its
business plan. The company undertakes no obligation to update forward-looking
information if circumstances or management's estimates or opinions should
change except as required by law. The reader is cautioned not to place undue
reliance on forward-looking statements.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in any jurisdiction. The
securities offered have not and will not be registered under the United States
Securities Act of 1933, as amended, or any state securities laws and may not
be offered or sold in the United States absent registration or an applicable
exemption from the registration requirement.
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED, AND DOES NOT ACCEPT
RESPONSIBILITY FOR, THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information:
For further information: Randall Tronsgard, Vice-President, Corporate
Development of Ruby Red, (403) 770-1346.