Mr. Adrian Lamoureux reports
92 RESOURCES CORP. CLOSES SECOND TRANCHE OF PRIVATE PLACEMENT
Further to the company's news releases of Jan. 12, 2016, and March 1, 2016, and TSX Venture Exchange conditional letter approval of Jan. 11, 2016, 92 Resources Corp. has closed the second trance of the private placement in the amount of $159,836.
The company will be issuing 3,196,720 units at five cents. Each unit comprises one common share and one-half of one transferable share purchase warrant. Each whole warrant will permit the warrantholder to acquire one additional common share of the company at a price of 10 cents per warrant share for a period of two years after closing. All the securities issued under the private placement will be subject to resale restrictions under applicable securities legislation.
Two insiders of the company purchased 700,000 units of the second-tranche closing. The company will not pay a finder's fee.
The company intends to use the net proceeds from the private placement for general working capital and for expenditures on the Hidden Lake lithium property.
We seek Safe Harbor.
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