By Sheri Kasprzak
New York, Oct. 31 - Rodinia Minerals Inc. said it concluded a private placement for C$3,040,500.
The company issued 4,108,785 units at C$0.74 each through placement agent Haywood Securities Inc.
The units are comprised of one share and one warrant. The warrants allow for the purchase of another share at C$1.10 each for one year.
The expiry of the warrants may be accelerated if the company's stock trades above C$1.50 for 30 consecutive trading days any time after Dec. 27.
The offering was first announced Sept. 22 as a C$2.22 million deal of up to 3 million units under the same terms. The deal was upsized to C$2.96 million on Sept. 28.
The proceeds will be used for exploration on the Workman Creek uranium deposit in Arizona and for working capital.
Based in Vancouver, B.C., Rodinia is a mineral exploration company.
| Issuer: | Rodinia Minerals Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$3,040,500
|
| Units: | 4,108,785
|
| Price: | C$0.74
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$1.10
|
| Placement agent: | Haywood Securities Inc.
|
| Pricing date: | Sept. 27
|
| Upsized: | Sept. 28
|
| Settlement date: | Oct. 31
|
| Stock price: | C$1.19 at close Sept. 27
|
| Stock price: | C$1.09 at close Sept. 28
|
| Stock price: | C$1.00 at close Oct. 31
|
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