Oil, gas and gold exploration company sells two types of units in deal
By Devika Patel
Knoxville, Tenn., Dec. 22 - RockBridge Resources Inc. said it settled the second tranche of a private placement of units. The company raised C$529,785 in the first tranche of the C$1.2 million deal on Dec. 6 and C$303,360 in the second tranche.
The company is selling 4 million flow-through units at C$0.15 apiece for C$600,000. Each flow-through unit consists of one flow-through common share and one half-share warrant.
The company also is selling 5 million units at C$0.12 apiece for C$600,000. Each unit consists of one common share and one half-share warrant.
It sold 3,128,000 units and 1,029,500 flow-through units in the first tranche and 1,653,000 units and 699,999 flow-through units in the second tranche.
Each whole warrant is exercisable at C$0.25 until Nov. 30, 2011. The strike price represents a 92.31% premium to the Dec. 3 closing share price of C$0.13.
Proceeds will be used for exploration and development of the company's oil and gas assets and for working capital.
Vancouver, B.C.-based RockBridge explores for oil, gas and gold.
| Issuer: | RockBridge Resources Inc.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant, units of one common share and one half-share warrant
|
| Amount: | C$1.2 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Nov. 30, 2011
|
| Warrant strike price: | C$0.25
|
| Settlement dates: | Dec. 6 (for C$529,785), Dec. 22 (for C$303,360)
|
| Stock symbol: | TSX Venture: RBE
|
| Stock price: | C$0.12 at close Dec. 6
|
| Market capitalization: | C$3.38 million
|
|
|
| Flow-through units
|
| Amount: | C$600,000
|
| Units: | 4 million
|
| Price: | C$0.15
|
|
|
| Units
|
| Amount: | C$600,000
|
| Units: | 5 million
|
| Price: | C$0.12
|
© 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.
