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VANCOUVER, Sept. 16, 2016 /CNW/ - Rathdowney Resources Ltd.
("Rathdowney" or the "Company") (TSXV: RTH) announces that it has
closed a unit ("Unit") private placement (the "Private Placement")
consisting of 7.9 million Units issued as part of the Company's
President's List for gross proceeds of $1.5
million. Each Unit consists of one common share in the
capital of the Company (a "Share") and one warrant (a
"Warrant"). Each Warrant entitles the holder to purchase one
additional Share at a price of $0.24
for a period of two years from the date of closing.
Proceeds will be used to advance Polish permitting activities
and further refine mining engineering work to progress the
Company's Olza zinc-lead-silver project towards feasibility and
completion of permit licensing, as well as for general corporate
working capital purposes.
The Shares and Warrants are subject to applicable resale
restrictions, including a four month hold period under Canadian
securities legislation.
On behalf of the Board of Directors
David Copeland
Chairman
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For more information on the Company, investors should review the
Company's continuous disclosure filings that are available at
www.sedar.com.
SOURCE Rathdowney Resources Ltd.