Pacific Topaz announces closing of non-brokered private placement

 Pacific Topaz announces closing of non-brokered private placement  TSX-V: PPZ.H  VANCOUVER, June 6, 2014 /CNW/ - Pacific Topaz Resources Ltd. (TSXV:  PPZ.H)  ("Pacific Topaz" or the "Company") announces that further to its news release  dated May 5, 2014, it has closed its non-brokered private placement of  4,000,000 units at a price of $0.07 per unit for gross proceeds of $280,000.  Each unit consists of one common share and one full common share purchase  warrant.  Each whole common share purchase warrant is exercisable at $0.10 per  common share until June 4, 2015.  The securities issued in connection with this private placement are subject to  a four month statutory hold period expiring on October 5, 2014  Proceeds will be used for general working capital and for continuing to  research opportunities in the natural resources sector.  The Company also announces that pursuant to the private placement, Radcliffe  Corporation, a company owned and controlled by Frank Giustra, acquired 790,000  units at a price of $0.07/unit which consists of 790,000 common shares,  representing 7.10% of the issued and outstanding common shares and 790,000  warrants representing 16.69% of the issued and outstanding warrants of the  Company.  As a result of the acquisition of securities described above, Radcliffe  Foundation, a charitable organization controlled by Frank Giustra, and  Radcliffe Corporation hold in aggregate, 1,590,000 common shares of the  Issuer, representing 14.30% of the current issued and outstanding shares of  the Issuer and would own 2,380,000 common shares, representing 19.98% on a  partially diluted basis, assuming exercise of the 790,000 warrants held by  Radcliffe Corporation.  The Company has also been advised that pursuant to the private placement,  Gordon Keep acquired 400,000 units at a price of $0.07/unit which consists of  400,000 common shares, representing 3.60% of the issued and outstanding common  shares of the Issuer and 400,000 warrants representing 8.45% of the issued and  outstanding warrants of the Issuer. Mr. Keep has ownership and control over  these securities.  As a result of the acquisition of securities described above, Gordon Keep, GBK  Investments (a corporation beneficially owned and controlled by Mr. Keep), The  Keep Children (holdings, which Mr. Keep has trading authority and direction  over but not beneficial ownership) and The Kinder Dream Foundation (a  charitable Foundation that Mr. Keep  has control and direction over but not  ownership) ("Related Entities") hold in aggregate 859,816 shares, representing  7.73% of the current issued and outstanding shares of the Company, and would  own 1,832,554 common shares, representing 15.15% of the then-issued and  outstanding shares of Pacific Topaz on a partially diluted basis, assuming  exercise of the 110,000 options and 862,738 warrants held by the Related  Entities mentioned above.  The Company has been advised that Radcliffe Foundation and Radcliffe  Corporation as well as Gordon Keep and his Related Entities acquired these  securities for investment purposes and has no present intention to acquire  further securities of the Company, although they may in the future acquire or  dispose of securities of the Company, through the market, privately or  otherwise, as circumstances or market conditions warrant  ON BEHALF OF THE BOARD OF DIRECTORS  OF PACIFIC TOPAZ RESOURCES LTD.  "Michael Kennedy" President & CEO  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.    SOURCE  Pacific Topaz Resources Ltd.  Michael Kennedy, President & CEO, Tel:  (604) 609-6110  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/June2014/06/c3636.html  CO: Pacific Topaz Resources Ltd. ST: British Columbia NI: MNG  
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