By Sheri Kasprzak
New York, Aug. 28 - Romarco Minerals Inc. has again upsized its previously announced private placement - this time to C$8,532,950.
The company now plans to sell up to 44,910,263 units at C$0.19 each.
The units consist of one share and one warrant. Each warrant is exercisable at C$0.30 for two years.
The expiry of the warrants may be accelerated to 30 days if the company's stock trades above C$0.40 for more than 20 consecutive trading days.
M Partners Inc. is the placement agent.
The offering priced Aug. 2 as a C$6 million sale of 31,578,947 units. It was upsized to C$8 million on Aug. 23 for 42,105,263 units.
Romarco will use the proceeds to fund exploration and development on its Pinos Gold District in Mexico, drilling at its Nevada projects and holding costs relating to its mineral properties and for general working capital.
Vancouver, B.C.-based Romarco is a mineral exploration company.
| Issuer: | Romarco Minerals Inc.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$8,532,950
|
| Units: | 44,910,263
|
| Price: | C$0.19
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.30
|
| Agent: | M Partners Inc.
|
| Pricing date: | Aug. 2
|
| Upsized: | Aug. 28
|
| Stock symbol: | TSX Venture: R
|
| Stock price: | C$0.195 at close Aug. 1
|
| Stock price: | C$0.28 at close Aug. 28
|
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