Proceeds fund exploration activities at Champion Hills gold project
By Devika Patel
Knoxville, Tenn., Jan. 18 - Revolution Resources Corp. said it will conduct a private placement of stock. The deal is slated to raise C$7.5 million.
The company will sell 12.5 million common shares at C$0.60 apiece on a best-efforts basis through agent Haywood Securities Inc. The price per share represents a 20% discount to C$0.75, the closing share price on Jan. 17.
Settlement is expected Feb. 4.
Proceeds will be used for exploration activities at Revolution's Champion Hills gold project in North Carolina as well as for general working capital and other corporate purposes.
Based in Vancouver, B.C., Revolution Resources is a gold exploration company.
| Issuer: | Revolution Resources Corp.
|
| Issue: | Common shares
|
| Amount: | C$7.5 million
|
| Shares: | 12.5 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Haywood Securities Inc.
|
| Pricing date: | Jan. 18
|
| Settlement date: | Feb. 4
|
| Stock symbol: | Toronto: RV
|
| Stock price: | C$0.75 at close Jan. 17
|
| Market capitalization: | C$26.14 million
|
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