| June 10, 2009 Richfield Announces Private Placement | |
| June 10, 2009 - Quesnel, British Columbia: Richfield Ventures Corp. ("Richfield" or the "Company") announced a private placement offering to raise gross proceeds of up to $750,000 from the sale of flow- through units and common share units. Flow through Units: Up to 3,000,000 "flow-through units" priced at $0.17 per flow-through unit. Each of these units will consist of one flow-through share and one-half non flow-through warrant. Each non flow-through share purchase warrant will allow the holder to purchase one common share in Richfield for a period of two years from closing at a price of $0.22 per share in the first year and $0.30 per share in the second year, subject to early expiry on the occurrence of a "trigger event". Common share units: Up to 2,000,000 "common share units" priced at $0.12 per common share unit. Each of these units will consist of one common share and one share purchase warrant. Each common share purchase warrant will allow the holder to purchase one common share in Richfield for a period of two years from closing at a price of $0.17 per share in the first year and $0.25 per share in the second year, subject to early expiry on the occurrence of a "trigger event". A "triggering event" shall occur when the volume-weighted trading price is greater than double the applicable warrant exercise price for a period of twenty consecutive trading days. The Company may give notice to the holders by way of a news release of the occurrence of a trigger event, in which case the warrants shall expire within thirty days of the date of dissemination of the news release. The private placement is subject to TSX Venture Exchange acceptance. A finders fee may be payable on a portion of the financing. The proceeds of the private placement financing will be used by the Company for general working capital and to fund its summer drill program on the Blackwater Project. FOR FURTHER INFORMATION PLEASE CONTACT Peter Bernier, President & CEO Richfield Ventures Corp. Tel: (877) 992.6644 Email: pete@RichfieldVentures.ca Susanne Bonn, CFO Richfield Ventures Corp. Tel: (877) 992.6644 Email: susanne@RichfieldVentures.ca Certain statements in this press release may be considered forward-looking information, including those relating to the "expectations", "intentions" or "plans" of the Company. Such information involves known and unknown risks, uncertainties and other factors -- including the approvals of regulators or shareholders, availability of funds, the results of financing and exploration activities, the interpretation of drilling results and other geological data, project cost overruns or unanticipated costs and expenses and other risks identified by the Company in its public securities filings -- that may cause actual events to differ materially from current expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. | |
