Published on 12/29/2015 in the Prospect News PIPE Daily.
Rogue settles C$2.31 million stock, units sale with C$115,000 tranche
Non-brokered deal finances Lac de la Grosse Femelle Silica property
By Devika Patel
Knoxville, Tenn., Dec. 29 – Rogue Resources Inc. said it raised C$115,000 in the fifth and final tranche of a C$2.31 million non-brokered private placement of stock and units. The deal priced for C$2.5 million and raised C$625,000 on Sept. 9, C$1,074,350 on Sept. 24, C$150,000 on Oct. 19 and C$345,000 on Dec. 18.
The company sold 6,042,333 flow-through common shares at C$0.15 apiece and 14.03 million units of one common share and one warrant at C$0.10 per unit. It sold 6.25 million units in the first tranche; 5,275,666 shares and 2.83 million units in the second tranche, 1.5 million units in the third tranche and 3.45 million units in the fourth tranche. In the final tranche, Rogue sold 766,667 flow-through shares.
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.
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.
|
| Issue: | Flow-through common shares, units of one common share and one warrant
|
| Amount: | C$2,309,350
|
| Agent: | Non-brokered
|
| Settlement dates: | Sept. 9 (for C$625,000), Sept. 24 (for C$1,074,350), Oct. 19 (for C$150,000), Dec. 18 (for C$345,000), Dec. 29 (for C$115,000)
|
| Stock symbol: | TSX Venture: RRS
|
| Stock price: | C$0.14 at close Sept. 8
|
| Market capitalization: | C$5.07 million
|
|
|
| Shares
|
| Amount: | C$906,350
|
| Shares: | 6,042,333
|
| Price: | C$0.15
|
| Warrants: | No
|
|
|
| Units
|
| Amount: | C$1,403,000
|
| Units: | 14.03 million
|
| Price: | C$0.10
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.12
|
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