VANCOUVER, Nov. 1, 2012 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") (TSXV: RTH) is pleased to announce
that it has closed a non-brokered private placement (the
"Offering") with Teck Resources Limited which was announced on
October 1, 2012. The Offering
consisted of 700,000 common shares at $0.50 per share for total proceeds of
C$350,000. The shares are
subject to applicable resale restrictions, including a four-month
hold period under Canadian securities laws from the date of
issuance.
The proceeds from the Offering will be used for
general working capital purposes.
About Rathdowney
Rathdowney Resources Ltd. is a mineral
exploration company focused on finding and developing the next
generation of zinc-lead-silver deposits in the ore fields of
Europe. The Company's Project Olza
is a Mississippi Valley Type (MVT) zinc-lead prospect situated in
Poland's prolific Upper Silesian
mining district which has been a centre of exploration and mining
activity since 12th century.
Rathdowney is associated with Hunter Dickinson
Inc. ("HDI") a diversified, global mine development company with a
25-year history of mineral development success. From its head
office in Vancouver, Canada, HDI
applies its unique strengths and capabilities to acquire, develop,
operate and monetize mineral properties that provide consistently
superior returns to shareholders.
John Barry
President & CEO
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.
This release includes certain statements that
may be deemed "forward‐looking statements". All statements in this
release, other than statements of historical facts, that address
exploration drilling, exploitation activities and events or
developments that the Company expects, are forward looking
statements. Although the Company believes the expectations
expressed in such forward‐ looking statements are based on
reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward‐looking statements. Factors
that could cause actual results to differ materially from those in
forward‐looking statements include market prices, exploitation and
exploration successes, continuity of mineralization, potential
environmental issues or liabilities associated with exploration,
development and mining activities, uncertainties related to the
ability to obtain necessary permits, licenses and title and delays
due to third party opposition, changes in government policies
regarding mining and natural resource exploration and exploitation,
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward‐ looking statements. For more information
on the Company, investors should review the Company's continuous
disclosure filings that are available at www.sedar.com.
SOURCE Rathdowney Resources Ltd.