Proceeds to be used for exploration, development of mineral properties
By Devika Patel
Knoxville, Tenn., Dec. 16 - Riva Gold Corp. said it has arranged a non-brokered private placement of units. It will raise C$10.5 million.
The company will sell 6 million units of one common share and a half-share warrant at C$1.75 per unit.
Each whole warrant is exercisable at C$2.50 for one year. The strike price reflects a 41.24% premium to the closing share price of C$1.77 on Dec. 15.
Proceeds will be used for further exploration and development of the company's mineral properties in Guyana and for general corporate purposes.
Vancouver, B.C.-based Riva explores for gold.
Issuer: | Riva Gold Corp.
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Issue: | Units of one common share and a half-share warrant
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Amount: | C$10.5 million
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Units: | 6 million
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Price: | C$1.75
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Warrants: | One half-share warrant per unit
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Warrant expiration: | One year
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Warrant strike price: | C$2.50
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Agent: | Non-brokered
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Pricing date: | Dec. 16
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Stock symbol: | TSX Venture: RIV
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Stock price: | C$1.77 at close Dec. 15
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Market capitalization: | C$78.41 million
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