By Marketwire,
April 1, 2009 at 10:42 PM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2009) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI) is pleased to announce a non-brokered private placement financing (the "Offering) of up to 2,500,000 units at a price of $0.40 cents per unit, subject to regulatory approval. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of Riverside for a period of 24 months from the closing date at a price of $0.65 in the 12 months immediately following the closing date and $0.85 thereafter. The proceeds will be used to fund a drill program on Riverside's Sugarloaf Peak Gold Project in Arizona and to facilitate the acquisition of advanced gold properties in, among other regions, Mexico. This financing is subject to regulatory approval and the securities issued under the Offering will be subject to a four-month hold period. A finder's fee may be payable on a portion of t