Resource Hunter Capital Corp. Reverse Takeover and $24 Million Financing 

 

February 25, 2011

On February 25, 2011, Resource Hunter Capital Corp. completed a previously announced reverse takeover (the "RTO") by Plains Creek Mining Limited ("Plains Creek"). The RTO was preceded by certain other transactions by Plains Creek, including a brokered private placement and mineral property acquisition by Plains Creek. The Company will carry on the business of Plains Creek.

On February 16, 2011, the TSX Venture Exchange issued its conditional approval of the RTO, which is preceded by the private placement and acquisition. The Company's common shares will resume trading on the Exchange under the ticker symbol "RHC" after the Exchange's conditions for listing are satisfied and the Exchange issues its final exchange bulletin confirming the completion of the RTO. The Company will issue a news release once the Exchange issues its final exchange bulletin. Immediately prior to and in connection with the closing of the RTO, Plains Creek completed a brokered private placement for gross proceeds of approximately $24,027,590 and completed the acquisition of a 50.1% interest in GB Minerals AG, a Switzerland company that owns a significant phosphate mineral property located in West Africa.

Resource Hunter Capital Corp., now Plains Creek Phosphate Corporation (TSXV: PCP), was represented on the transaction by Sean O'Neill of McMillan LLP.