Vancouver B.C., June 11, 2015 - Regal Resources Inc. (RGR.CSE) (the "Company" or "Regal") is pleased to announce that it has entered into a binding investment agreement with Mansa Equity Partners, LLC ("Mansa"), whereby Mansa has agreed to invest US$7.5 million for a 20% direct interest in the Company's Patagonia/Sunnyside Project (the "Project") located in Arizona (collectively, the "Transaction").
Highlights of the Transaction include:
Regal expects to use the net proceeds of the Transaction to repay any outstanding secured indebtedness that remains outstanding as of closing of the Transaction and to advance the exploration program at the Project.
Regal's Chief Financial Officer, Tony Louie, commented "We are excited to welcome Mansa as a new strategic investor and expect that the proceeds of this investment will enable Regal to achieve its short and medium term goals for our Patagonia/Sunnyside Project".
Closing of the Transaction remains subject to customary closing conditions.
About Regal Resources Inc. (www.regalresinc.com):
Regal Resources Inc. is a junior mineral exploration and development company based in Vancouver, Canada. The Company is focused on the development and acquisition of copper projects in the prolific copper producing state of Arizona. The Company is currently focused on its advanced exploration copper/silver property, the Patagonia/Sunnyside project, located near Nogales, Arizona. Regal is listed on the Canadian Securities Exchange (CSE) under the symbol (RGR).
For further information please contact:
Gregory M Thomas
Drew N Brass
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", "optimistic", "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. Except as required by law, 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.
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