By Sheri Kasprzak
Atlanta, March 15 - RNC Gold Inc. said it has upsized to C$7 million and cut the pricing on its previously announced C$6 million private placement.
The company will now sell 7 million units at C$1.00 each.
The units are comprised of one share and one half-share warrant. The whole warrants provide for an additional share at C$1.25 each for five years.
Canaccord Capital Corp. is the placement agent.
The offering is expected close in mid-March.
The deal was first announced Feb. 24 without details as a C$5.5 million offering priced at C$1.20. The deal was increased to C$6 million Feb. 25.
Based in Toronto, RNC is a gold mining company. It plans to use the proceeds from the deal to develop its Cerro Quema gold project and explore the Bonanza and LaLibertad gold mine properties. The remainder will be used for working capital and general corporate purposes.
| Issuer: | RNC Gold Inc.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$7 million
|
| Units: | 7 million
|
| Price: | C$1.00
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Five years
|
| Warrant strike price: | C$1.25
|
| Placement agent: | Canaccord Capital Corp.
|
| Pricing date: | Feb. 23
|
| Upsized: | March 15
|
| Stock price: | C$1.31 at close Feb. 23
|
| Stock price: | C$1.19 at close March 14
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
