Deal offers two types of units to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., April 8 - Rockhaven Resources Ltd. said it settled a C$3.1 million non-brokered private placement of units. The deal priced for C$3 million on Feb. 25.
The company sold 15 million flow-through units of one flow-through common share and one half-share warrant at C$0.18 per unit and 2,666,666 non-flow-through units of one common share and one half-share warrant at C$0.15 per unit.
Each whole warrant is exercisable at C$0.30 until April 7, 2015. The strike price is a 66.67% premium to the closing share price of C$0.18 on Feb. 24.
Strategic Metals Ltd., Rockhaven's largest shareholder, bought 5.3 million flow-through units for C$954,000.
Proceeds will be used for a diamond drill program at the Klaza gold-silver property 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$3.1 million
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | April 7, 2015
|
| Warrant strike price: | C$0.30
|
| Agent: | Non-brokered
|
| Investor: | Strategic Metals Ltd. (for C$954,000)
|
| Pricing date: | Feb. 25
|
| Settlement date: | April 8
|
| 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
|
| Units: | 15 million
|
| Price: | C$0.18
|
|
|
| Non-flow-through units
|
| Amount: | C$400,000
|
| Units: | 2,666,666
|
| Price: | C$0.15
|
© 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.
