VANCOUVER, Oct. 15, 2012 /CNW/ - Rackla Metals Inc.
(TSX-V: RAK) is pleased to advise that it has closed its previously
announced non-brokered private placement by issuing 3,000,000
flow-through units at $0.10 per unit,
and 10,612,500 non flow-through units at $0.08 per unit, for total gross proceeds of
$1,149,000. Each unit consists
of one common share and one-half of a warrant, each whole warrant
entitling the holder to purchase one additional common share of the
Company (non flow-through) at $0.10
for two years.
The Company also issued 243,750 common shares
and 365,625 warrants as finders' fees in connection with the
financing. The finders' fee warrants have the same terms as
the unit warrants. All of the shares and warrants have a
resale restriction until February 12,
2013.
The net proceeds of the placement will be used
for exploration of the Company's properties in the Yukon Territory, and for general working
capital purposes.
About Rackla
Rackla Metals controls a portfolio of promising
gold projects across Yukon
Territory, including two extensive claim blocks in the
Rackla belt -an emerging trend of Carlin type gold systems in
east-central Yukon- and the Sixty
Mile project near Dawson City.
ON BEHALF OF THE BOARD
"Simon Ridgway"
President and CEO
Neither the TSX Venture Exchange nor the
Investment Industry Regulatory Organization of
Canada accepts responsibility
for the adequacy or accuracy of this release.
Forward-Looking Statement
Some of the statements in this news release contain
forward-looking information that involves
inherent risk and uncertainty affecting the business of the
Company. Actual results may differ
materially from those currently anticipated in such
statement.
SOURCE Rackla Metals Inc.