TORONTO, ONTARIO — (Marketwired) — 07/19/13 — Rae-Wallace Mining Company („Rae-Wallace“ or the „Corporation“) (PINKSHEETS: RAEW) announces that it entered into debt settlement agreements to settle trade payables for the aggregate settlement amount of $92,872, through the issuance on July 17, 2013 of an aggregate of 928,723 common shares in the capital of the Corporation, at a price of $0.10 per common share. The common shares issued will be subject to a four-month and a day hold period from the date of issuance in accordance with applicable securities laws. Of the total debt, $88,272 representing an aggregate of 882,723 shares has been issued to three related parties at the deemed price of $0.10 per share.
About Rae-Wallace
Rae-Wallace is a mineral exploration company, existing under the laws of the Cayman Islands, that plans to explore and develop properties to the mineral production stage. Rae-Wallace stock currently trades on the OTC market under the symbol „RAEW“.
Statements in this press release regarding the Corporation-s business which are not historical facts are „forward-looking statements“ that involve risks and uncertainties, such as estimates and statements that describe the Corporation-s future plans, objectives or goals, including words to the effect that the Corporation or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Contacts: Rae-Wallace Mining Company George Cole President and CEO (775) 315-0728
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