Saville Resources Inc. Expands Private Placement Offering

Saville Resources Inc. announced an increase in its non-brokered private placement from its initial plans earlier in May. The Vancouver-based company is now offering up to 20,000,000 units at $0.05 each, aiming to raise a maximum of $1,000,000. These units comprise one common share and a half-warrant; full warrants can convert into a common share at $0.075 for the next 12 months.

The funds from the private placement are intended for general corporate purposes and boosting working capital. Saville plans to adhere to TSX Venture Exchange regulations, potentially paying finder's fees as per applicable securities law. The offering, still pending Exchange approval, includes a statutory hold on issued securities for four months and one day. Participation details for insiders are yet to be disclosed.