Toronto, Canada - August 10, 2009 - Loncor Resources Inc. (the "Company" ) (TSX-V Symbol: "LN") announces that it is negotiating a non-brokered private placement of up to 3,000,000 common shares of the Company at a price of Cdn$0.75 per share for proceeds to the Company of up to Cdn$2,250,000. Closing of this financing (the "Financing") is subject to the approval of the TSX Venture Exchange. The Company intends to use the proceeds from the Financing for working capital and general corporate purposes.
Forward-Looking Information: Statements in this press release announcing the proposed Financing are forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company. Factors that could cause actual results or events to differ materially from current expectations include, among other things, failure to complete the proposed Financing, the need to satisfy regulatory and legal requirements with respect to the proposed Financing, risks related to the exploration stage of the Company's projects, market fluctuations in prices for securities of exploration stage companies, uncertainties about the availability of additional financing, uncertainties related to fluctuations in commodity prices and the other risks involved in the mineral exploration business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
For further information, please visit our website at www.loncor.com or contact:
Arnold T. Kondrat, Chairman of the Board
Telephone: (416) 366-2221
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.