By Devika Patel
Knoxville, Tenn., Aug. 19 - Riverside Resources Inc. said it has arranged a C$1.45 million non-brokered private placement of stock.
The company will sell 2,416,667 common shares at C$0.60 per share to Cliffs Natural Resources Exploration Inc. The per-share price represents a 14.29% discount to the C$0.70 closing share price on Aug. 18.
Proceeds will be used for exploration and general working capital.
Based in Vancouver, Riverside is a mining company with recent acquisitions in Mexico.
| Issuer: | Riverside Resources Inc.
|
| Issue: | Common stock
|
| Amount: | C$1.45 million
|
| Shares: | 2,416,667
|
| Price: | C$0.60
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investor: | Cliffs Natural Resources Exploration Inc.
|
| Pricing date: | Aug. 19
|
| Stock symbol: | TSX Venture: RRI
|
| Stock price: | C$0.70 at close Aug. 18
|
| Market capitalization: | C$14.9 million
|
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