VANCOUVER, BC, April 5, 2012 -- Regal Resources Inc. (the "Company" or "Regal") (CNSX:RGR), announces that it will conduct a non-brokered private placement of up to 4,000,000 units of the Company (the "Units") at a price of $0.25 per Unit for aggregate proceeds of up to $1,000,000. Each Unit will consist of one common share in the capital of the Company and one share purchase warrant. Each warrant will entitle the holder thereof to acquire one additional common share of the Company at a per share price of $0.35 for a period of one year from the date of closing of the offering, subject to accelerated expiry in certain circumstances.
Shares acquired by the placees will be subject to a hold period of four months plus one day from the date of completion of the financing in accordance with applicable securities legislation. Funds raised by this private placement will be used for general corporate purposes.
For further information please contact: Drew Brass VP Communications 604.730.0234
This news release contains certain statements that may be deemed "forward-looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. 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 may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, except as required by law.
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