Non-brokered deal sells 7 million units of one share and one warrant
By Devika Patel
Knoxville, Tenn., June 17 – Revolver Resources Inc. said it increased a non-brokered private placement of units to C$1.05 million from C$450,000. The deal priced on May 24 and raised C$341,503 on Friday.
The company will now sell 7 million units of one common share and one warrant at C$0.15 per unit. It sold 2,276,684 units in the first tranche.
Each warrant is exercisable at C$0.20 for five years. The strike price is an 11.11% premium to the May 20 closing share price of C$0.18.
Revolver Resources is a mining company based in Vancouver, B.C.
| Issuer: | Revolver Resources Inc.
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| Issue: | Units of one common share and one warrant
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| Amount: | C$1.05 million
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| Units: | 7 million
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| Price: | C$0.15
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| Warrants: | One warrant per unit
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| Warrant expiration: | Five years
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| Warrant strike price: | C$0.20
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| Agent: | Non-brokered
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| Pricing date: | May 24
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| Upsized: | June 17
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| Settlement date: | June 17 (for C$341,503)
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| Stock symbol: | TSX Venture: RZ
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| Stock price: | C$0.18 at close May 20
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| Market capitalization: | C$1.19 million
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