Non-brokered deal finances Lac de la Grosse Femelle Silica property
By Devika Patel
Knoxville, Tenn., Sept. 9 – Rogue Resources Inc. said it raised C$625,000 in the first tranche of a C$2.5 million non-brokered private placement of stock and units.
The company is selling flow-through common shares at C$0.15 apiece and units of one common share and one warrant at C$0.10 per unit. It sold 6.25 million units in the first tranche.
Each warrant is exercisable at C$0.12 for two years.
The price per share is a 7.14% premium to the Sept. 8 closing share price of C$0.14. The strike price reflects a 14.29% discount to that price.
Settlement of the final tranche is expected Oct. 15.
Proceeds will be used to advance the Lac de la Grosse Femelle Silica property by completing the 2015 exploration program and for general working capital.
Rogue is a Vancouver, B.C.-based advanced-stage nickel, iron and gold exploration company.
| Issuer: | Rogue Resources Inc.
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| Issue: | Flow-through common shares, units of one common share and one warrant
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| Amount: | C$2.5 million
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| Agent: | Non-brokered
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| Settlement date: | Sept. 9 (for C$625,000), Oct. 15
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| Stock symbol: | TSX Venture: RRS
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| Stock price: | C$0.14 at close Sept. 8
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| Market capitalization: | C$5.92 million
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| Shares
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| Price: | C$0.15
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| Warrants: | No
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| Units
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| Price: | C$0.10
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| Warrants: | One warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.12
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