Revett Completes Private Placement
26 Março 2014 - 3:31PM
Marketwired
Revett Completes Private Placement
SPOKANE VALLEY, WASHINGTON--(Marketwired - Mar 26, 2014) -
Revett Mining Company, Inc. (NYSEMKT:RVM)(TSX:RVM) ("Revett" or the
"Company") announced today that it has completed the first tranche
of a private placement of up to 4,129,100 units at a price of US$
0.78 per unit for gross proceeds of U.S.$ 3.4 million. Each unit
consists of one share of common stock and one-half of a common
stock purchase warrant with an exercise price US$ 1.00 per full
warrant exercisable within 24 months. Revett will use the proceeds
of the offering to fund ongoing development at its Troy mine and to
advance permitting of its Rock Creek project in northwestern
Montana.
The first tranche, for 2,307,690 units, and gross proceeds of
US$ $ 1.8 million, closed on March 26th. Subscribers included John
Shanahan, President and CEO (128,205 units), and Tim Lindsey,
Chairman (320,512 units). In addition to the Company's directors
and executive officers, Urion Mining International B.V. (an
affiliate of Trafigura AG, which purchases our silver and copper
concentrates) purchased 320,512 units in order to maintain
approximately 10% equity ownership in the Company. The second
tranche, for an additional 2,091,410 units and proceeds of
approximately US$ 1.6 million, is expected to close on or before
March 31st, pending regulatory and exchange approval. With the
closing of the first and expected closing of the second tranche,
Revett expects to have 39,017,989 shares of common stock
outstanding.
The Company's 2013 year end consolidated financial results are
expected be released on Thursday, March 27, 2014. The Company has
scheduled a conference call to discuss its 2013 year end results on
Friday, March 28, 2014 at 11:30am (EDT). To participate in the
call, North American callers can call 1-888-231-8191 and
International callers can call (647) 427-7450. Please dial in to
the call approximately five to ten minutes prior to the scheduled
start time of the call. The conference call and all questions and
answers will be recorded and made available until April 11, 2014.
To listen to the recording, call toll free (855) 859-2056 or (416)
849-0833 and enter the access code 20019851.
About Revett
Revett, through its subsidiaries, owns and operates the Troy
Mine in Lincoln County, Montana and the development-stage Rock
Creek project located in Sanders County, Montana, USA. Its goal is
to resume commercial production of the proven reserves at the Troy
Mine and develop the significant resources at the Rock Creek
project, and thereby become a premier mid-tier base and precious
metals producer.
Except for the statements of historical fact contained
herein, the information presented in this news release may contain
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 and other applicable
securities legislation. Generally, these forward looking statements
can be identified by the use of forward-looking terminology such as
"plans", "expects", or "does not expect", "is expected", "is not
expected", "budget", "schedule", "estimates", "forecasts",
"intends", "anticipates", "or does not anticipate" or "believes" or
variations of such words and phrases or state that certain actions,
events or results "may", "could", "would", "might" or "will be
taken", "occur" or "be achieved. Forward looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business and economic uncertainties, risks and
contingencies and those factors discussed in the section entitled
"Risk Factors" in the Company's Annual Report on Form 10-K and in
other periodic reports filed with the Securities and Exchange
Commission under the Securities Exchance Act of 1934. Copies of
these reports are available on the SEC's EDGAR website at
www.sec.gov and in Canada on SEDAR at www.sedar.com. Although the
Company has attempted to identify important factors that could
cause actual results to differ materially, there may be other
factors that cause results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate results and future events could differ materially
from those anticipated in such statements. Accordingly, readers
should not place undue reliance on forward-looking
statements.
Revett Mining Company, Inc.Monique HayesCorporate Secretary /
Director of Investor Relations(509) 921-2294(509)
891-890www.revettmining.com
Revett Mining Company, Inc. (AMEX:RVM)
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