Placement will include both units and flow-through units
By Angela McDaniels
Tacoma, Wash., May 16 - Rogue Iron Ore Corp. said it will raise C$1.5 million through a non-brokered private placement of units.
The company will sell up to 10 million units at a price of C$0.15 per unit and C$0.17 per flow-through unit, according to a company news release.
Each unit will consist of one common share and one half of a warrant. Each flow-through unit will consist of one flow-through common share and one half of a warrant.
Each whole warrant will entitle the holder to purchase one common share at an exercise price of C$0.25 for 18 months. The exercise price is a 47.1% premium to the company's C$0.17 closing share price on May 15.
The company plans to use the proceeds primarily for expenditures on its Radio Hill Property and for general working capital.
Rogue Iron Ore is an iron exploration and development company based in Vancouver B.C.
| Issuer: | Rogue Iron Ore Corp.
|
| Issue: | Units of one share and half a warrant, flow-through units of one flow-through share and half a warrant
|
| Amount: | C$1.5 million
|
| Units: | Up to 10 million
|
| Price: | C$0.15 per unit, C$0.17 per flow-through unit
|
| Warrants: | Half a warrant per unit or flow-through unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | May 16
|
| Stock symbol: | TSX Venture: RRS
|
| Stock price: | C$0.165 at close May 16
|
| Market capitalization: | C$6.13 million
|
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