Newsletter

Why sign up? Click here

Show Privacy Policy
RT Minerals Corp. values privacy as much as you do. We will never sell or rent your email address to anyone under any circumstances.

If you have specific concerns about this policy, please feel free to contact us with your questions or comments.

News Release

Friday, October 25, 2013: RT MINERALS ANNOUNCES UPDATE ON PROPOSED REORGANIZATION

Vancouver, BC – RT Minerals Corp. (“RTM” / the “Company”) (TSXV: RTM), further to its news release of August 16, 2013, wishes to announce that it has scheduled December 12, 2013 as the date for its extraordinary general meeting seeking shareholder approval to a 12 for 1 share consolidation.

The Company is also proposing to undertake a post-consolidation private placement of up to 3,000,000 flow-through units (the “FT Units”) and up to a further 13,000,000 non flow-through units (the “NFT Units”).  Each FT Unit and NFT Unit will be priced at $0.05 and will be comprised of a share and a warrant exercisable at $0.06 for a term of two years (in the case of the FT Units) and five years (in the case of the NFT Units).

The proceeds from the sale of the FT Units will be used for exploration activity on the Matachewan gold property to be acquired by the Company, as detailed in its August 16, 2013 news release, while the proceeds from the sale of the NFT Units will be used to settle outstanding indebtedness and for general working capital.

Further, as detailed in the August 16, 2013 news release, the Company proposes to settle approximately $15,000 in debt owing to a non-arm’s length creditor by the issuance of approximately 300,000 post-consolidation shares having a deemed price of $0.05 per share.

The transactions detailed herein remain subject to receipt of all requisite shareholder and regulatory approvals, including the acceptance of the TSX Venture Exchange.

FOR FURTHER INFORMATION CONTACT:

 Paul Antoniazzi

President and Chief Executive Officer

Tel: (604) 681-3170

Fax: (604) 681-3552

 Website: www.rtmcorp.com

__________________

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Disclaimer

The Canadian National Stock Exchange has neither approved nor disapproved of the information contained herein.

Read more News