Mr. David W. Johnston reports:
TORONTO, ONTARIO, July 10, 2013: Rainbow Resources Inc. ("RBW" - TSX.V:, "RIINF" - OTCQX: ) ("Rainbow" or the "Company") announces that it intends to complete a non-brokered financing to raise approximately $500,000.
The financing will be comprised of units at $0.05 and flow through units at $0.05. Units will include one warrant which will entitle the holder to acquire one additional common share at $0.10 for a period of 18 months. Flow through units will include one half of a warrant in which a full warrant will entitle the holder to acquire one additional common share at $0.10 for a period of 18 months. In connection with this financing, Rainbow will be paying to registered agents a commission of 8% cash and 8% broker warrants.
The proceeds of this financing will be used to continue exploration on the Company's gold and silver properties in the Slocan Valley (the Gold Viking, Referendum and Whitewater), in Nevada (the Jewel Ridge) and further prospecting and geochem analysis on the prospective graphite property adjacent to Eagle Graphite Corp's processing facility also in the Slocan Valley area of south-eastern British Colombia and for general working capital purposes.
Rainbow also announces that it is current with its option payments on the Jewel Ridge gold property in Nevada and planning is now underway to carry out a fall drilling program.
Rainbow's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Mr. Jim Decker, P.Eng., a director of Rainbow who serves as a qualified person under the definition of National Instrument 43-101.
For further information: President David W. Johnston - (403) 701-2781.
Latest News: http://stocknetworkmedia.com/rainbow-resources-inc/
About Rainbow Resources
Rainbow is a Canadian-based junior exploration company focused on building shareholder wealth through aggressive exploration in two favorable and proven mining jurisdictions - the West Kootenays in southeast British Columbia (silver, gold and flake graphite), and Nevada where Rainbow's Jewel Ridge Gold-Silver Project is in the heart of a major producing district. Rainbow's shares are listed for trading on the TSX Venture Exchange under the symbol RBW.V, and on the OTCQX International under the symbol RIINF. Rainbow has 45,720,052 common shares issued and outstanding.
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptionsthat, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company's continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
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 of this news release.