By Devika Patel
Knoxville, Tenn., May 1 - Rockcliff Resources Inc. said it raised C$4.78 million in a private placement of units and stock. The deal priced for C$5 million on April 7 and repriced on April 17. The company had planned to include a C$750,600 greenshoe.
Rockcliff Resources sold 7,025,665 flow-through shares for C$4.22 million and 933,334 units for C$560,000. Each flow-through share and unit sold for C$0.60.
The company had planned to sell 6.67 million flow-through shares at C$0.60 per share for C$4 million and 1.67 million units at C$0.60 apiece for C$1 million.
Each unit is comprised of one common share and one half-share warrant. Each whole warrant will still be exercisable at C$0.95 for two years.
Dundee Securities Corp. led a syndicate of agents that included Blackmont Capital Corp. and Evergreen Capital Partners Inc.
Proceeds will be used for exploration and working capital.
Sudbury, Ont.-based Rockcliff Resources is a new resource company that is focused on the acquisition and development of high-quality mineral assets.
| Issuer: | Rockcliff Resources Inc.
|
| Issue: | Units of one common share and one half-share warrant; flow-through shares
|
| Amount: | C$4,775,399.40
|
| Agents: | Dundee Securities Corp. (lead), Blackmont Capital Corp., Evergreen Capital Partners Inc.
|
| Pricing date: | April 7
|
| Amended: | April 17
|
| Settlement date: | May 1
|
| Stock symbol: | TSX Venture: RCR
|
| Stock price: | C$0.73 at close April 4
|
|
|
| Units
|
| Amount: | C$560,000.40
|
| Units: | 933,334
|
| Price: | C$0.60
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.95
|
|
|
| Flow-through shares
|
| Amount: | C$4,215,399
|
| Shares: | 7,025,665
|
| Price: | C$0.60
|
| Warrants: | No
|
© 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.
