By Devika Patel
Knoxville, Tenn., Aug. 26 - Rockgate Capital Corp. said it has arranged a C$6.5 million private placement of units. The deal is being conducted by a syndicate of agents led by Dundee Securities Corp. and including GMP Securities LP and Raymond James Ltd.
The company will sell up to 10 million units at C$0.65 apiece. Each unit will consist of one common share and one half-share warrant, with each whole two-year warrant exercisable at C$0.80 in the first year and at C$0.90 thereafter.
The strike prices reflect 15.94% and 30.44% premiums, respectively, to the Aug. 25 closing share price of C$0.69.
The mineral exploration and development company is based in Vancouver, B.C.
| Issuer: | Rockgate Capital Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$6.5 million
|
| Units: | 10 million
|
| Price: | C$0.65
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.80 in the first year, C$0.90 thereafter
|
| Agents: | Dundee Securities Corp. (lead), GMP Securities LP and Raymond James Ltd.
|
| Pricing date: | Aug. 26
|
| Stock symbol: | Toronto: RGT
|
| Stock price: | C$0.69 at close Aug. 25
|
| Market capitalization: | C$47.82 million
|
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