Non-brokered deal funds drilling program on Redford iron ore property
By Devika Patel
Knoxville, Tenn., Dec. 10 - Ridgemont Iron Ore Corp. said it completed a non-brokered private placement of stock. The deal raised C$1.2 million.
The company sold 2 million common shares at C$0.60 per share. The price per share is a 23.08% discount to the Dec. 9 closing share price of C$0.78.
Proceeds will be used to conduct a drilling program on the Redford iron ore property.
Based in Vancouver, B.C., the company explores and develops iron.
| Issuer: | Ridgemont Iron Ore Corp.
|
| Issue: | Flow-through common shares
|
| Amount: | C$1.2 million
|
| Shares: | 2 million
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Settlement date: | Dec. 10
|
| Stock symbol: | TSX Venture: RDG
|
| Stock price: | C$0.78 at close Dec. 10
|
| Market capitalization: | C$9.44 million
|
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