By Sheri Kasprzak
Atlanta, May 10 - Riverstone Resources Inc. said it plans to raise C$1.2 million in a private placement.
The offering includes up to 4 million units at C$0.30 each.
The units are comprised of one share and one half-share warrant. The full warrants allow for an additional share at C$0.36 each for one year.
Placement agent Toll Cross Securities Inc. has an over-allotment option for up to 1 million units.
Based in Vancouver, B.C., Riverstone is a gold exploration company. It plans to use the proceeds for exploration on its Burkina Faso gold property and for general corporate purposes.
| Issuer: | Riverstone Resources Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$1.2 million (maximum)
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| Units: | 4 million (maximum)
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| Greenshoe: | For up to 1 million units
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| Price: | C$0.30
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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$0.36
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| Placement agent: | Toll Cross Securities Inc.
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| Pricing date: | May 10
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| Stock price: | C$0.30 at close May 10
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