By Devika Patel
Knoxville, Tenn., April 19 - Rodinia Minerals Inc. said it raised C$1.5 million in the initial tranche of a C$2 million non-brokered private placement of stock. The deal priced April 9.
The company is selling common shares at C$0.50 apiece. It sold 3 million shares in this tranche.
Proceeds will be used to continue development of key projects and for working capital purposes.
Based in Vancouver, B.C., Rodinia is a mineral exploration company.
Issuer: | Rodinia Minerals Inc.
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Issue: | Common shares
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Amount: | C$2 million
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Price: | C$0.50
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Warrants: | No
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Agent: | Non-brokered
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Pricing date: | April 9
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Settlement date: | April 19 (for C$1.5 million)
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Stock symbol: | TSX Venture: RM
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Stock price: | C$0.54 at close April 8
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Market capitalization: | C$16.8 million
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