By Devika Patel
Knoxville, Tenn., Oct. 1 - Riverstone Resources Inc. announced a private placement of units for C$1.98 million.
The company will sell 8.25 million units of one share and one warrant at C$0.24 per unit to International Finance Corp. Each warrant will be exercisable at C$0.42 for three years.
Proceeds will be used for working capital and further exploration of the company's gold projects in Burkina Faso.
Riverstone is a gold exploration company based in Vancouver, B.C.
| Issuer: | Riverstone Resources Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$1.98 million
|
| Units: | 8.25 million
|
| Price: | C$0.24
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Three years
|
| Warrant strike price: | C$0.42
|
| Investor: | International Finance Corp.
|
| Pricing date: | Oct. 1
|
| Stock symbol: | TSX Venture: RVS
|
| Stock price: | C$0.16 at close Oct. 1
|
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