Non-brokered deal finances exploration at Klaza gold-silver property
By Devika Patel
Knoxville, Tenn., June 8 – Rockhaven Resources Ltd. said it raised C$1.79 million in the first tranche of a C$2.52 million non-brokered private placement of units. The deal priced on May 18.
The company is selling 8.75 million flow-through units of one flow-through common share and one half-share warrant at C$0.20 per unit and 4.5 million units of one common share and one half-share warrant at C$0.17 per unit. It sold 5,995,000 flow-through units for C$1,199,000 and 3,469,000 non-flow-through units for C$589,730 in the initial tranche.
Each whole warrant will be exercisable at C$0.25 for 18 months. The strike price reflects a 31.58% premium to the May 17 closing share price of C$0.19.
Proceeds will be used for exploration at the Klaza gold-silver property.
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, units of one common share and one half-share warrant
|
| Amount: | C$2,515,000
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 18
|
| Settlement date: | June 8 (for C$1,788,730)
|
| Stock symbol: | TSX Venture: GRV
|
| Stock price: | C$0.19 at close May 17
|
| Market capitalization: | C$22.08 million
|
|
|
| Flow-through units
|
| Amount: | C$1.75 million
|
| Units: | 8.75 million
|
| Price: | C$0.20
|
|
|
| Units
|
| Amount: | C$765,000
|
| Units: | 4.5 million
|
| Price: | C$0.17
|
|
|
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