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In many cases, the end of the year gives you time to step back and take stock of the last 12 months. This is when many of us take a hard look at what worked and what did not, complete performance reviews, and formulate plans for the coming year. For me, it is all of those things plus a time when I u...
SYS-CON.TV
Torch River Closes Private Placement

CALGARY, ALBERTA -- (Marketwire) -- 11/23/12 -- Torch River Resources Ltd. ("Torch" or the "Corporation") (TSX VENTURE:TCR) (FRANKFURT:WNF) (PINKSHEETS:TORVF) is pleased to announce that it has closed the non-brokered private placement announced September 24, 2012. Torch will issue 4,250,000 common shares (the "Common Shares") at a price of $0.02 per share for gross proceeds of $85,000 (the "Offering"). The Offering consists of one (1) common share in the capital of the Corporation issued and one common share purchase Warrant. Each Warrant entitles the holder to purchase one Common Share of the Corporation at an exercise price of $0.07 in the first year and $0.10 in the second year from the closing of the Offering.

The proceeds of the private placement will be used for the following activities:


$6,500      Annual General Meeting Costs                                    
$7,500      Annual General Meeting Cost                                     
$2,000      Private Placement Cost                                          
$35,000     Operating Expenses for the next five months                     
$4,000      Property Liability Insurance                                    
$7,500      Accounts Payable                                                
$7,000      Public Company Costs                                            
$22,000     Annual Audit, Tax Filings and Reporting                         

The private placement is subject to receipt of all necessary regulatory approvals.

Torch is a company listed and trading on the TSX Venture Exchange, symbol: TCR.

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.

Contacts:
Torch River Resources Ltd.
William E. Pfaffenberger
President
(403) 444-6888
www.torchriver.ca

ProActive Communications Co.
(604) 541-1995
Toll free: (800) 540-1995

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