Resource Finance & Investment Limited Is Pleased to Announce That It Has Reached Agreement to Raise US$450,000 Through a Private Placement With European Investors.Business Editors HAMILTON, Bermuda--(BUSINESS WIRE)--Feb. 23, 2001 Resource Finance & Investment Limited (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :RFIVF) is pleased to announce that it has reached agreement to raise US$450,000 through a private placement with European Investors. The terms of the private placement will require the issue of 12 million common shares of the Company at a price of US$0.0375. A finders fee of 5% of net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). is payable. The Company's mineral investments in both Illinois and Oregon, USA, have been run on a care and maintenance basis until market conditions improved. In view of more recent improvement the directors have determined to use the opportunity to farm out these investments on the best terms available to shareholders. The directors have retained Epsom Investment Services to seek new business diversification Diversification A risk management technique that mixes a wide variety of investments within a portfolio. It is designed to minimize the impact of any one security on overall portfolio performance. Notes: Diversification is possibly the greatest way to reduce the risk. opportunities aligned with industry growth prospects. The proceeds of the placement will be used to clear all debt and provide working capital to develop this strategy of seeking new business interests suitable for the Company. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are subject to a number of contingencies and uncertainties, including but not limited to, market acceptance for RFI (Radio Frequency Interference) High-frequency electromagnetic waves that emanate from electronic devices such as chips. RFI - Radio Frequency Interference products, manufacturing of RFI products in a commercial setting, obtaining adequate financing and construction management for products and obtaining appropriate permits. Such forward-looking statements are not guarantees of future performance, and are based on numerous assumptions about future conditions that could change. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made. RFI undertakes no obligation to publicly release the result of any revision of these forward-looking statements to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or after the date they are made or to reflect the occurrence of unanticipated events. No Stock Exchange has reviewed or accepted responsibility for the adequacy or accuracy of this news release Resource Finance & Investments Ltd. C/o Gessien Business Development B.P.22, 13 chemin du Levant Levant (ləvănt`) [Ital.,=east], collective name for the countries of the eastern shore of the Mediterranean from Egypt to, and including, Turkey. 01221 Ferney-Voltaire France |
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