Deal sells stock at $0.20 per share with warrants exercisable at $0.30
By Devika Patel
Knoxville, Tenn., Feb. 15 - Rimrock Gold Corp. raised $502,000 in the first tranche of a $1 million private placement of stock on Feb. 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company is selling common shares at $0.20 per share on a best-efforts basis. The price per share is identical the Feb. 14 closing share price.
Investors will also receive warrants, which are each exercisable at $0.30. The strike price reflects a 50% premium to the Feb. 14 closing price.
The development-stage company is based in Las Vegas.
| Issuer: | Rimrock Gold Corp
|
| Issue: | Common stock
|
| Amount: | $1 million
|
| Price: | $0.20
|
| Warrants: | Yes
|
| Warrant strike price: | $0.30
|
| Announcement date: | Feb. 15
|
| Settlement date: | Feb. 13 (for $502,000)
|
| Stock symbol: | OTCBB: TUCAD
|
| Stock price: | $0.20 at close Feb. 14
|
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