CALGARY, ALBERTA--(Marketwire - Jan. 28, 2011) - Ria Resources Corp. ("RIA" or the "Corporation") (TSX VENTURE:RIA) announces that on January 28, 2011 it completed the closing of a non-brokered private placement. The closing placed 2,500,000 common shares (the "Common Shares") at a price of $0.10 per Common Share for gross proceeds of $250,000 (the "Closing"). The Common Shares are subject to a four month hold period.
The proceeds of the Offering will be used for corporate overhead and working capital to fund the continued work program on the properties held by RIA.
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 offered securities mentioned in this news release will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold within the United States or to, or for the account or benefit of U.S. persons except in certain transactions exempt from the registration requirements of the U.S. Securities Act.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Ria is a company listed and trading on the TSX Venture Exchange, symbol: RIA.
This press release contains forward looking statements. More particularly, this press release contains statements concerning the anticipated use of the proceeds of the Offering. Although RIA believes that the expectations reflected in these forward looking statements are reasonable, undue reliance should not be placed on them because RIA can give no assurance that they will prove to be correct. Since forward looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. The intended use of the proceeds of the Offering by RIA might change if the board of directors of RIA determines that it would be in the best interests of RIA to deploy the proceeds for some other purpose. The forward looking statements contained in this press release are made as of the date hereof and RIA undertakes no obligations to update publicly or revise any forward looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.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.