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Message: Announces Private Placement
| April 1, 2009 |
| Riverside Resources Announces Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2009) - Riverside Resources Inc. ("Riverside" or the "Company") (TSX VENTURE:RRI) is pleased to announce a non-brokered private placement financing (the "Offering) of up to 2,500,000 units at a price of $0.40 cents per unit, subject to regulatory approval. Each unit will consist of one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire one common share of Riverside for a period of 24 months from the closing date at a price of $0.65 in the 12 months immediately following the closing date and $0.85 thereafter. The proceeds will be used to fund a drill program on Riverside's Sugarloaf Peak Gold Project in Arizona and to facilitate the acquisition of advanced gold properties in, among other regions, Mexico. This financing is subject to regulatory approval and the securities issued under the Offering will be subject to a four-month hold period. A finder's fee may be payable on a portion of the financing. About Riverside Resources: Riverside Resources Inc operates under a joint-venture, shared-risk business model that capitalizes on the company's technical knowledge and its vast experience in the field. The company acquires quality projects that have unrecognized upside and solid potential for discoveries. Riverside will grow by undertaking the high-return exploration and evaluation work that is needed to justify further development. With a dedicated team of proven resource discoverers, the company generates a high quality property portfolio and then partners with others to conduct the extraction of mineral assets. Riverside is predominantly active in Mexico and continues to look for excellent projects with significant discovery potential. The Company current has approx. $3,000,000 in the treasury and 17,858,000 shares outstanding. Additional property information and diagrams that have been compiled by Riverside's in-house exploration team can be found on the Riverside Resources Inc. website at www.rivres.com. ON BEHALF OF RIVERSIDE RESOURCES INC. Dr. John-Mark Staude, President & CEO |
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