Non-brokered deal to sell about 11.1 million units at C$0.45 per unit
By Devika Patel
Knoxville, Tenn., Oct. 14 – Regulus Resources Inc. said it plans a C$5 million non-brokered private placement of units.
The company will sell about 11.1 million units of one common share and one half-share warrant at C$0.45 per unit.
Each whole warrant is exercisable at C$0.70 for three years. The strike price is a 75% premium to the Oct. 10 closing share price of C$0.40.
Settlement is expected on Oct. 30.
Proceeds will be used to advance the AntaKori copper-gold project in Peru.
Regulus is a Waterdown, Ont., iron, copper, silver and gold explorer.
| Issuer: | Regulus Resources Inc.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$5 million
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| Units: | 11.1 million (approximate)
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| Price: | C$0.45
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Three years
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| Warrant strike price: | C$0.70
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| Agent: | Non-brokered
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| Pricing date: | Oct. 14
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| Settlement date: | Oct. 30
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| Stock symbol: | TSX Venture: REG
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| Stock price: | C$0.40 at close Oct. 10
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| Market capitalization: | C$35.96 million
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