CALGARY, ALBERTA--(Marketwire - Sept. 24, 2012) - Torch River Resources Ltd. (TSX VENTURE:TCR) ("Torch" or the "Corporation") is pleased to announce a non-brokered private placement of up to 5,000,000 shares (the "Shares") at a price of $0.02 per share for gross proceeds of approximately $100,000 (the "Offering"). The Offering of up to 5,000,000 units will consist of one (1) common share ("Common Share") in the capital of the Corporation issued and one common share purchase Warrant. Each Warrant will entitle the holder to purchase one Common Share of the Corporation at an exercise price of $0.07 in the first year and $0.10 in the second year from the closing of the Offering.
The proceeds of the private placement will be used as working capital to fund business activities of the Corporation.
The private placement is subject to receipt of all necessary regulatory approvals.
Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.
Neither 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.
Contact Information:
William E. Pfaffenberger
President
(403) 444-6888
www.torchriver.ca
ProActive Communications Co.
Local Vancouver: (604) 541-1995 or toll free (800) 540-1995