| September 04, 2009 Richfield Announces Private Placement | |
| RICHFIELD ANNOUNCES PRIVATE PLACEMENT September 4, 2009 - Quesnel, British Columbia: Richfield Ventures Corp. ("Richfield" or the "Company") announces a private placement offering to raise gross proceeds of up to $868,110 from the sale of flow-through units and common share units. Flow Through Units The flow-through units (the "FT Units") are being offered at $0.17 per FT Unit. Each FT Unit will consist of one common share (a "Common Share") of the Company issued on a flow-through basis and one-half of a common share purchase warrant (a "Warrant") of the Company. Each whole Warrant will entitle the holder to purchase one Common Share 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. Common Share Units The common share units (the "Units") are being offered at $0.12 per Unit. Each Unit will consist of one Common Share and one share purchase warrant (a "Unit Warrant") of the Company. Each Unit Warrant will entitle the holder to purchase one Common Share 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. A finders' fee equal to 7.5% of the gross proceeds on a portion of the private placement will be payable in kind by the issuance of Units. Insiders are expected to acquire a portion of the private placement. The private placement is subject to regulatory approval. The proceeds of the private placement will be used by the Company for general working capital and to further fund its 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 The units have not been registered under the United States Securities Act of 1933, as amended (US Securities Act), and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This news release does not constitute an offer to sell or a solicitation of an offer to buy such units in any jurisdiction in which such an offer or sale would be unlawful. 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. Neither 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. | |
