By Devika Patel
Knoxville, Tenn., June 11 - Romarco Minerals Inc. said it conduct a non-brokered private placement of units for C$10 million.
The company will sell 50 million units of one common share and one half-share warrant at C$0.20 apiece. Each whole warrant will be exercisable at C$0.25 for one year.
Settlement is expected July 25.
Proceeds will be used to fund exploration, drilling and permitting at the company's Haile Gold Mine, for exploration at the company's Pinos District in Mexico and for general working capital purposes.
Vancouver, B.C.-based Romarco is a mineral exploration company.
| Issuer: | Romarco Minerals Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$10 million
|
| Units: | 50 million
|
| Price: | C$0.20
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.25
|
| Agent: | Non-brokered
|
| Pricing date: | June 11
|
| Settlement date: | July 25
|
| Stock symbol: | TSX Venture: R
|
| Stock price: | C$0.22 at close June 10
|
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