Non-brokered offering funds drilling operations and corporate purposes
By Devika Patel
Knoxville, Tenn., July 25 - RockBridge Resources Inc. said it raised C$186,300 in the second tranche of a C$3 million non-brokered private placement of units. The deal priced for C$5 million on April 17 and was amended to its current size on May 23.
The company completed an initial tranche on July 18.
The company is selling units of one common share and one warrant at C$0.05 per unit and flow-through units of one flow-through common share and one half-share warrant at C$0.05 per unit.
It sold 126,000 units and 3.6 million flow-through units in the second tranche.
Each two-year warrant is exercisable at C$0.15, a 275% premium to the April 16 closing share price of C$0.04.
Proceeds will be used for drilling operations and general corporate purposes.
Vancouver, B.C.-based RockBridge explores for oil, gas and gold.
Issuer: | RockBridge Resources Inc.
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Issue: | Units of one flow-through common share and one warrant, flow-through units of one flow-through common share and one half-share warrant
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Amount: | C$3 million
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Price: | C$0.05
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Warrant expiration: | Two years
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Warrant strike price: | C$0.15
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Agent: | Non-brokered
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Pricing date: | April 17
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Upsized: | May 23
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Settlement date: | July 18, July 25 (for C$186,300)
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Stock symbol: | TSX Venture: RBE
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Stock price: | C$0.04 at close April 16
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Market capitalization: | C$2.32 million
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Units
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Warrants: | One warrant per unit
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Flow-through units
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Warrants: | One half-share warrant per unit
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