News Release No. 13-11
Rainy Mountain Closes Private Placement
West Vancouver, British Columbia – May 7, 2013 – Rainy Mountain Royalty Corp. (the “Company” or “Rainy Mountain”) is pleased to announce that, further to its news release dated March 12, 2013, the Company has closed its non-brokered private placement (the “Private Placement”), which financing was fully subscribed. The Company has raised $403,500 by the issuance of 8,070,000 non-flow through units (the “Units”) at a price of $0.05 per Unit. Each Unit consists of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of five years at an exercise price of $0.10. In connection with this Private Placement, finders’ fees were paid in the amount of $27,250, and as well, 545,000 finders’ warrants were issued. All of the securities issued pursuant to this Private Placement are subject to a hold period expiring on September 7, 2013.
The principal subscribers for this Private Placement were Exploration Capital Partners 2012 Limited Partnership, part of the Sprott Group of Companies, and Criterion Capital Corporation, a private investment company owned by Douglas L. Mason, the Chief Executive Officer of the Company.
The proceeds from this Private Placement will be used for exploration and property expenditures and for general working capital purposes.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922 2030, or visit the Company’s website at www.rmroyalty.com
Rainy Mountain Royalty Corp.
“Douglas L. Mason”
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Douglas L. Mason, Chief Executive Officer
Neither the 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.
This news release includes certain statements that may be deemed “forward-looking statements” within the meaning of applicable securities legislation. All statements, other than statements of historical facts, that address such matters as future exploration, drilling, exploration activities, potential mineralization and resources and events or developments that the Company expects, are forward looking statements and, as such, are subject to risks, uncertainties and other factors of which are beyond the reasonable control of the Company. Such statements are not guarantees of future performance and actual results or developments may differ materially from those expressed in, or implied by, this forward-looking information. Factors that could cause actual results to differ materially from those in forward-looking statements include such matters as market prices, exploitation and exploration results, continued availability of capital and financing, and general economic, market or business conditions. Any forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.