Deal offers two types of units to fund exploration, working capital
By Toni Weeks
San Luis Obispo, Calif., Feb. 25 - Rockhaven Resources Ltd. said it has arranged a non-brokered private placement of two types of units to raise up to C$3 million.
The company will sell up to 15 million flow-through units of one flow-through common share and one half-share warrant at C$0.18 apiece and 2 million non-flow-through units of one common share and one half-share warrant at C$0.15 each.
Each warrant will be exercisable at C$0.30 for one year, a C$66.67% premium to the closing share price of C$0.18 on Feb. 24.
Strategic Metals Ltd., Rockhaven's larget shareholder, will purchase 5.3 million flow-through units in the placement, and insiders of Rockhaven will participate in an amount greater than 11% of the total offering.
Proceeds will be used for exploration and general working capital.
Based in Vancouver, B.C., Rockhaven is a silver and gold exploration company.
| Issuer: | Rockhaven Resources Ltd.
|
| Issue: | Flow-through units of one flow-through common share and one half-share warrant and non-flow-through units of one common share and one half-share warrant
|
| Amount: | C$3 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Investor: | Strategic Metals Ltd. (for C$954,000)
|
| Pricing date: | Feb. 25
|
| Stock symbol: | TSX Venture: RK
|
| Stock price: | C$0.18 at close Feb. 24
|
| Market capitalization: | C$11.08 million
|
|
|
| Flow-through units
|
| Amount: | C$2.7 million
|
| Price: | C$0.18
|
|
|
| Non-flow-through units
|
| Amount: | C$300,000
|
| Price: | C$0.15
|
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