By Devika Patel
Knoxville, Tenn., Nov. 2 - Rainy River Resources Ltd. said it completed a C$8.25 million private placement of stock. The deal priced for C$8.01 million on Oct. 7.
The company sold 2,924,500 flow-through common shares at C$2.82 per share.
Wellington West Capital Markets Inc. was the lead agent of a syndicate that included Genuity Capital Markets and Sandfire Securities Inc.
Proceeds will be used for exploration.
Rainy River is a metals exploration company based in Vancouver, B.C.
| Issuer: | Rainy River Resources Ltd.
|
| Issue: | Flow-through common shares
|
| Amount: | C$8,247,090
|
| Shares: | 2,924,500
|
| Price: | C$2.82
|
| Warrants: | No
|
| Agents: | Wellington West Capital Markets Inc. (lead), Genuity Capital Markets and Sandfire Securities Inc.
|
| Pricing date: | Oct. 7
|
| Settlement date: | Nov. 2
|
| Stock symbol: | TSX Venture: RR
|
| Stock price: | C$2.30 at close Oct. 6
|
| Market capitalization: | C$118 million
|
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