Message #7 From:
NewsBot Date: July 28, 2006 01:37:00 PM
RESE News Reese Corp. Closes $1.5 Million Above-Market Financing
OTTAWA--(BUSINESS WIRE)--July 28, 2006--July 28, 2006 - Reese Corp. (OTCBB:RESE) (FWB:R5E) is pleased to report that it has closed a US$1,500,000 financing of restricted stock at US$2.00 per share, with a full warrant exercisable at $3.50 until January 31, 2007. No finder fees were paid.
Chris Crupi, President and CFO, commented "We are very pleased to close a financing at a premium to the current market price of our stock. We received tremendous interest from the investment community regarding this offering of treasury shares. An investment firm in Hong Kong, Hexagon Capital, agreed to invest these funds at a premium given our agreement to grant them the right to participate in future financings, which they place a significant value on."
Reese will use the funds to finance a drill program at the recently acquired El Tiliche project in Mexico, and to acquire other advanced-stage properties in proven mining districts globally. The Company is currently in the process of securing the required permits at El Tiliche, and plans to begin drilling in September, 2006.
About Reese Corp.
Reese Corp. is a precious metals exploration and development company. It is management's objective for Reese to become a gold and precious metals producer by developing the El Tiliche project in Mexico, and by acquiring other advanced-stage projects and/or producing mines in proven precious metal districts throughout the world. The Company trades on the OTC market under the symbol "RESE" and on the Frankfurt Exchange under the symbol "R5E". For more information, please visit the Company's web site at: www.ammexgoldmining.com (now available in the following languages: English, German, Mandarin, Spanish and French).
Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: The statements contained herein which are not historical are forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to market acceptance of new technologies or products, delays in testing and evaluation of products, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
