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Richview Resources Inc.: Richview Resources Inc. Completes Private Placement for Gross Proceeds of $250,000

^{Published on 2009-02-13 12:44:10, Last Modified on 2009-02-13 12:44:39 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Feb. 13, 2009) - Richview Resources Inc. ("Richview")(TSX:RVR) is pleased to announce that is has completed a private placement for gross proceeds of $250,000 through the sale of 8,333,333 units at a price of $0.03 per unit.

Each unit consists of one common share and one common share purchase warrant, each warrant entitling the holder to acquire one common share of Richview at an exercise price of $0.10 for a period of 24 months following the closing date. All securities will be subject to a four month hold period from the date of closing.

In connection with the offering of the units, Mak Allen & Day Capital Partners received $25,000 cash commission, being 10% of the gross proceeds, and 833,333 agent options, being 10% of the offering. Each agent option entitles the holder to purchase a unit at $0.03 per unit for 24 months each being comprised of one common share and one warrant. Each whole warrant entitles the holder to purchase one common share of Richview at $0.10 for 24 months.

About Richview Resources Inc.

Richview is the sole owner of the past-producing Thierry Mine property in northwestern Ontario, adjacent to the town of Pickle Lake. Richview is a Canadian company committed to responsible development of natural resources while respecting local environmental, community and social interests.

Neither the TSX, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.