Ravencrest Resources closes $700K bridge financing

pcNewsWireRavencrest Resources Inc. (CSE: RVT) has completed previously announced $700,000 bridge loan. The company issued 5,600,000 warrant to the lenders as consideration for the loan.

News Release

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS

RAVENCREST ANNOUNCES CLOSING OF BRIDGE LOAN
CSE – RVT
June 21, 2017 – Vancouver, BC, Canada

Ravencrest Resources Inc. (the “Company”) [CSE – RVT] is pleased to announce it has completed the CAD$700,000 bridge loan previously announced in a news release dated May 25, 2017 (the “Bridge Loan”).

The proceeds of the Bridge Loan have been received by the Company and the Company has issued aggregate of 5,600,000 warrants to purchase common shares in the capital of the Company to the lenders on a pro-rata basis. CAD$600,000 of the proceeds of the Bridge Loan will be advanced to Alberta Green Biotech Inc. (“AGB”) as proceeds of a credit facility (the “Credit Facility”) for AGB to pay current liabilities and operating expenses incurred in connection with the sale of all of the issued and outstanding shares of AGB to the Company (the “Acquisition”). The remainder of the proceeds of the Bridge Loan will be used to pay expenses incurred by the Company in connection with and prior to closing of the Acquisition and other working capital purposes.

FOR FURTHER INFORMATION PLEASE CONTACT:

Anton J. Drescher, CPA, CMA
President
Ravencrest Resources Inc.
(T) (604) 685-1017
E-mail: ajd@harbourpacific.com