Offering funds drilling, development, exploration and working capital
By Devika Patel
Knoxville, Tenn., Nov. 9 - Rogue Resources Inc. said it will conduct a non-brokered private placement of units. The company will raise between C$1.6 million and C$2 million by selling 4 million units and flow-through units.
The company will sell the units at C$0.40 apiece. Each unit consists of one common share and one half-share warrant.
The company will sell the flow-through units at C$0.50 apiece. Each flow-through unit consists of one flow-through common share and one half-share warrant.
Each whole two-year warrant will be exercisable at C$0.75 in the first year and at C$1.00 in the second. The strike prices are 50% and 100% premiums to the Nov. 8 closing share price of C$0.50.
Proceeds will be used for drilling on the company's Radio Hill iron project, for deep drilling and preliminary development expenditures on its Langmuir nickel/platinum/palladium project, for funding of a number of gold project acquisitions and early-stage gold focused exploration programs and for general working capital.
Based in Vancouver, B.C., Rogue is a mineral explorer.
| Issuer: | Rogue Resources Inc.
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| Issue: | Units of one common share and one half-share warrant, flow-through units of one flow-through common share and one half-share warrant
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| Amount: | C$1.6 million (minimum), C$2 million (maximum)
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| Units: | 4 million
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.75 in the first year, C$1.00 thereafter
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| Agent: | Non-brokered
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| Pricing date: | Nov. 9
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| Stock symbol: | TSX Venture: RRS
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| Stock price: | C$0.50 at close Nov. 8
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| Market capitalization: | C$8.73 million
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| Units
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| Price: | C$0.40
|
|
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| Flow-through units
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| Price: | C$0.50
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