Deal has a C$900,000 greenshoe; Dundee Securities will be lead agent
By Devika Patel
Knoxville, Tenn., June 24 – Rathdowney Resources Ltd. said it plans a C$6 million private placement of units with a 15% greenshoe for an additional C$900,000. The deal will be conducted on a best-efforts basis by a syndicate of agents led by Dundee Securities Ltd.
The company will sell units of one common share and one warrant at C$0.19 per unit.
Each warrant is exercisable at C$0.24 for two years. The strike price reflects a 20% premium to the June 23 closing share price of C$0.20.
Proceeds will be used to advance Polish permitting activities, to further refine mining engineering work on the company's Olza zinc-lead-silver project and for general corporate working capital purposes.
The base metal and ore explorer is based in Vancouver, B.C.
Issuer: | Rathdowney Resources Ltd.
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Issue: | Units of one common share and one warrant
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Amount: | C$6 million
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Greenshoe: | 15%, or C$900,000
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Price: | C$0.19
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Warrants: | One warrant per unit
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Warrant expiration: | Two years
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Warrant strike price: | C$0.24
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Agent: | Dundee Securities Ltd. (lead)
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Pricing date: | June 24
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Stock symbol: | TSX Venture: RTH
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Stock price: | C$0.20 at close June 23
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Market capitalization: | C$29.52 million
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