Portofino Announces Closing of Fully Subscribed $715,000 Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 15, 2017) - PORTOFINO RESOURCES INC. (TSXV: POR) (FSE: POT) ("Portofino" or the "Company") is pleased to announce it has closed a previously announced fully subscribed non-brokered private placement for $715,000 and issued 8,937,500 Units priced at $.08/Unit. Each Unit consists of one common share and one 2-year common share purchase warrant exercisable at $0.12 in the first year and $0.15 in the second year. All shares issued are subject to a four-month hold period expiring in March 2018. Finders fees comprise $17,640 and 220,500 broker warrants that have the same terms as the subscribers. Proceeds from this financing shall be used by the Company for project due diligence, exploration, and for general corporate purposes.
About Portofino Resources Inc.
Portofino is a Vancouver, Canada based company focused on acquiring, exploring and developing mineral resource projects in the Americas. The Company has recently executed agreements pursuant to a portfolio of prospective lithium salar properties in Catamarca, Argentina.
On Behalf of the Board,
"David G. Tafel"
Chief Executive Officer
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This news release may contain forward looking statements concerning future operations of Portofino Resources Inc. (the "Company"). All forward- looking statements concerning the Company's future plans and operations, including management's assessment of the Company's project expectations or beliefs may be subject to certain assumptions, risks and uncertainties beyond the Company's control. Investors are cautioned that any such statements are not guarantees of future performance and that actual performance and exploration and financial results may differ materially from any estimates or projections.