Darwin Resources Corp. Announces $1M Private Placement Financing
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Oct. 30, 2013) - Darwin Resources Corp. ("Darwin" or the "Company") (TSX VENTURE:DAR) (PINKSHEETS:DARWF) (FRANKFURT:DWU) announces a non-brokered private placement financing of up to 12.5 million units at $0.08 per unit for gross proceeds of $1,000,000. Each unit will consist of one common share of Darwin and one-half of one non-transferable common share purchase warrant. Each whole warrant will be exercisable to acquire one additional common share of Darwin at $0.14 for a period of two years from the date of closing of the private placement. Insiders of the Company plan to participate. Finders' fees consisting of cash and warrants may be payable on a portion of the private placement financing.
The net proceeds of the private placement will be used to advance exploration work at the Company's Suriloma project. The Company plans to immediately commence a 1,000 metre diamond drill program to follow up on targets identified in the recent geophysical program, with further drilling pending those results.
The securities issued under the private placement will be subject to a four-month hold period from the date of closing. The closing of the private placement is subject to, among other things, acceptance from the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
About Darwin Resources Corp.:
Darwin (TSX VENTURE:DAR) (PINKSHEETS:DARWF) (FRANKFURT:DWU) is a resource acquisition and development company. The Company has an option to acquire 100% of the Suriloma epithermal gold - silver property in the Department of La Libertad in Peru.
On behalf of the Board,
Dr. Graham Carman
President & CEO
Forward Looking Statements This Company News Release contains certain "forward-looking" statements and information relating to the Company that are based on the beliefs of the Company's management as well as assumptions made by and information currently available to the Company's management. Such statements reflect the current risks, uncertainties and assumptions related to certain factors including, without limitations, failure to successfully complete intended financings, capital and other costs varying significantly from estimates, production rates varying from estimates, changes in world metal markets, changes in equity markets, uncertainties relating to the availability and costs of financing needed in the future, equipment failure, unexpected geological conditions, imprecision in resource estimates or metal recoveries, success of future development initiatives, competition, operating performance, environmental and safety risks, delays in obtaining or failure to obtain necessary permits and approvals from local authorities, and other development and operating risks. Should any one or more of these risks or uncertainties materialize, or should any underlying assumptions prove incorrect, actual results may vary materially from those described herein. Although Darwin believes that assumptions inherent in the forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
Neither the TSX Venture Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor the Frankfurt Stock Exchange accepts responsibility for the adequacy or accuracy of this news release.
Contact
Darwin Resources Corp.
Mariana Bermudez
+1.604.685.9316
+1.604.683.1585 (FAX)
info@darwinresources.com
www.darwinresources.com