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TORONTO, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Rupert Resources Ltd (“Rupert” or “the Company”) (TSX-V:RUP) (FRANKFURT:R05) is pleased to announce that it intends to complete a non-brokered private placement of up to 6,024,096 common shares (“Common Shares“) of the Company at a price of $0.83 per Common Share for gross proceeds of up to $5,000,000 (the “Private Placement“). The Company has the option to increase the size of the Private Placement by up to an additional 903,614 Common Shares, for total gross proceeds of up to $5,750,000

The Private Placement is subject to the approval of the TSX Venture Exchange. The securities issued in connection with the Private Placement will be subject to a four month hold period, in accordance with applicable securities laws.

The Company intends to use the proceeds from the Private Placement for its continued exploration program of the Pahtavaara project and general corporate purposes.

The Company may pay a commission or finder’s fee to eligible parties in connection with the Private Placement, subject to the approval of the TSX Venture Exchange and compliance with applicable securities laws.

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 unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Rupert

Rupert is a Canadian based gold exploration and development company that is listed on the TSX Venture Exchange under the symbol “RUP”. The Company owns the Pahtavaara gold mine, mill, and exploration permits and concessions located in the Central Lapland Greenstone Belt in Northern Finland (see the Company’s November 9, 2016 press release). The Company also holds a 100% interest in the Gold Centre property, which consists of mineral claims located in the Balmer Township, Red Lake Mining Division of Ontario.

The Company has entered into a binding letter of intent with Northern Aspect Resources Ltd. (“NARL”) to complete a business combination, whereby the Company has agreed, subject to certain conditions, to acquire all of the issued and outstanding securities of NARL. NARL is a privately owned, British Columbia incorporated company with a 100% beneficial interest inthe Hirsikangas and Osikonmaki properties in Central Finland. See the Company’s January 15, 2018 press release for additional information.

For further information, please contact:

Rupert Resources Ltd
82 Richmond Street East, Suite 203, Toronto, Ontario M5C 1P1
Tel: +1 416-304-9004

Web: http://rupertresources.com/

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.

Cautionary Note Regarding Forward Looking Statements

This press release contains statements which constitute ”forward-looking statements”, including the completion of the proposed Private Placement, deadlines, and the anticipated use of proceeds. The words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company, are intended to identify such forward-looking statements. Investors are cautioned that forward-looking statements are based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made, and are inherently subject to a variety of risks and uncertainties and other known and unknown factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the general risks of the mining industry, as well as those risk factors discussed or referred to in the Company's annual Management's Discussion and Analysis for the year ended February 28, 2017 available at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. The Company does not intend, and does not assume any obligation, to update these forward-looking statements except as otherwise required by applicable law.