VANCOUVER, British Columbia, March 15, 2010 (GLOBE NEWSWIRE) -- Rouge Resources Ltd. (the "Company") (OTCBB:ROUGF) announces that it has agreed to a non-brokered private placement of up to $2,000,000 of its securities consisting of the sale of up to 40,000,000 units at a price of $0.05 per unit, each unit consisting of one common share in the capital of the Company and one non-transferable share purchase warrant, each such warrant entitling the holder to acquire one additional common share of the Company at a price of $0.10 per share for two years.
The proceeds of the private placement will be used to pay accounts payable, to conduct a work program on the Company's property and for general working capital purposes.