Regis Resources to price private placement of units

By Devika Patel

Knoxville, Tenn., May 20 - Regis Resources Ltd. said it plans to raise funds from an offering of units.

Specifically, the company intends to raise capital through a marketed best-efforts private placement of special warrants that will be automatically convertible into units.

These warrants will be issued to North American and European institutional investors.

Each unit will convert into one ordinary share and one half-share warrant. Each warrant will be exercisable for two years.

The deal will be conducted by a syndicate of agents led by CIBC World Markets Inc.

Proceeds will be used to fund the completion of the feasibility study over the Duketon Gold Project, acquisition of capital items for the development of the project, ongoing exploration and for working capital.

Regis is a resource company based in Melbourne, Australia.

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