Non-brokered deal was also to sell flow-through common stock at C$0.15
By Devika Patel
Knoxville, Tenn., April 1 – Rogue Resources Inc. said it raised C$335,500 in the second and final tranche of a C$1,163,500 non-brokered private placement of units. The deal raised C$828,000 on March 4, when the company said it would raise C$1 million in the offering by selling stock as well as units.
The company sold 11,635,000 units of one common share and one warrant at C$0.10 per unit. Rogue sold 8.28 million units in the first tranche and 3,355,000 units in the second. It had also planned to sell flow-through common shares at C$0.15 apiece.
Each warrant is exercisable at C$0.12 until March 4, 2018. The strike price reflects a 20% premium to the March 3 closing share price of C$0.10. The price per share was a 50% premium to that price.
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.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1,163,500
|
| Units: | 11,635,000
|
| 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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| Agent: | Non-brokered
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| Settlement date: | March 4 (for C$828,000), April 1 (for C$335,500)
|
| Stock symbol: | TSX Venture: RRS
|
| Stock price: | C$0.10 at close March 3
|
| Market capitalization: | C$5.74 million
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