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RIMOUSKI, QUÉBEC–(Marketwire – Aug. 30, 2011) – Ressources Appalaches (TSX VENTURE:APP) (“Appalaches”) has completed a private placement of $600,000 with accredited investors and employees, executive officers, directors and consultants. Pursuant to this placement, Appalaches has issued 10 000 000 common shares at a price of $0.06 per share and 10 000 000 common share purchase warrants.
Each warrant entitles the holder to subscribe for one common share at a price of $0.10 per share, up to August 30, 2013.
If the closing price of the common shares on the TSX Venture Exchange is $0.15 or more per common share for twenty (20) consecutive session days at any time after December 31, 2011, warrant holders will have thirty (30) days to exercise the warrants. Otherwise, the warrants will expire automatically.
In connection with this placement, Appalaches has been paid $14,900 finder’s fee and 248,333 broker warrants, each of which can be exercised at a price of $0.06 per share until August 30, 2012. All securities in connection with the placement will be subject to a hold period until December 31, 2011.
The proceeds of the placements will be used by Appalaches for the final payment for acquisition of the Dufferin Mine (see press release of April 15, 2009). Further to the placement Appalaches currently has 124,249,092 shares issued and outstanding common shares.
About Ressources Appalaches
Since it was first established in 1994, Appalaches has targeted the discovery and development of deposits of base and precious metals in Canada, mainly in Quebec and Nova Scotia. The Company holds some decade mineral properties in various stages of development.
The Society’s objective is to become a gold producer: on April 9, 2009 it became the owner of the Dufferin Mine in Nova Scotia. The Society owns 10M shares of the mining exploration company Puma Exploration Inc. (TSX VENTURE:PUM). Photos of the Dufferin Mine and its mining facilities are available on the Society’s website at www.ressourcesappalaches.com.
Additional information can be obtained from the Society. Visit our Web site at www.ressourcesappalaches.com.
The contents of this press release were prepared by Alain Hupé, Eng., a Qualified Person as defined in NI 43-101.
