Non-brokered offering to finance exploration, general working capital
By Devika Patel
Knoxville, Tenn., March 4 – Rogue Resources Inc. said it raised C$828,000 in the first tranche of a C$1 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. Each warrant will be exercisable at C$0.12 until March 4, 2018.
The price per share is a 50% premium to the March 3 closing share price of C$0.10. The strike price reflects a 20% premium to that price.
Rogue sold 8.28 million units in the first tranche.
Settlement of the final tranche is expected March 31.
Proceeds will be used for exploration, expenditures on the Silicon Ridge Project and 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$1 million
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| Agent: | Non-brokered
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| Settlement date: | March 4 (for C$828,000), March 31
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| Stock symbol: | TSX Venture: RRS
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| Stock price: | C$0.10 at close March 3
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| Market capitalization: | C$6.02 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: | March 4, 2018
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| Warrant strike price: | C$0.12
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