Proceeds fund exploration on company's properties in Yukon Territory
By Devika Patel
Knoxville, Tenn., Oct. 15 - Rackla Metals Inc. announced it settled a C$1.15 million non-brokered private placement of units. The deal priced for C$1 million on Sept. 17.
The company sold 3 million flow-through units at C$0.10 per unit and 10,612,500 non-flow-through units at C$0.08 per unit.
Each flow-through and non-flow-through unit will consist of one common share and one-half share warrant. Each whole two-year warrant is exercisable at C$0.10 for one common share. The strike price is identical to the closing share price on Sept. 14.
Axemen Resource Capital Ltd. will receive a finder's fee.
Proceeds will be used for exploration on the company's properties in the Yukon Territory and for general working capital.
Vancouver, B.C.-based Rackla Metals develops gold projects in the Yukon Territory.
| Issue: | Rackla Metals Inc.
|
| Issue: | Flow-through units of one flow-though common share and a half-share warrant, non-flow-through units of one share and a half-share warrant
|
| Amount: | C$1,149,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 17
|
| Settlement date: | Oct. 15
|
| Stock symbol: | TSX Venture: RAK
|
| Stock price: | C$0.10 at close Sept. 14
|
| Market capitalization: | C$2.2 million
|
|
|
| Flow-through units
|
| Amount: | C$300,000
|
| Units: | 3 million
|
| Price | C$0.10
|
|
|
| Units
|
| Amount: | C$849,000
|
| Units: | 10,612,500
|
| Price: | C$0.08
|
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