2012-11-01 12:34:20 -
Vancouver, British Columbia CANADA, November 01, 2012 /FSC/ - Regency Gold Corp. (RAU.H - TSX Venture)(the "Company"),proposes to raise up to $150,000 by way of a non-brokered private placement through the issuance of up to 3,000,000 units at a price of $0.05 per unit (the "Unit"). The Company reserves the right to increase the size of the private placement or to modify the type, nature and/or price of the Units for any reason. Each Unit will consist of one common share and one common share purchase warrant (the "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.10 for a period of one year from closing of the private
In addition, the Company has received verbal acceptances from certain creditors and proposes to issue up to 3,200,000 shares at a price of $0.05 per share in respect of liabilities accrued to July 31, 2012 for deferred salaries to its chief executive officer and promissory notes plus accrued interest owed to other creditors. This settlement will allow the Company to preserve its cash for general corporate purposes and to fund the investigation of other potential acquisitions.
The private placement and debt settlement with common shares is subject to compliance with applicable securities laws and to receipt of regulatory approval.
The private placement or the shares for debt transactions will not result in any new control persons.
For the board
President and CEO
Telephone: (778) 888-4101
"Neither the 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."
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Source: Regency Gold Corp. (TSX.V - RAU.H) www.regencygold.com
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