Deal funds permitting, equipment payments, general corporate purposes
By Devika Patel
Knoxville, Tenn., Nov. 5 - Romarco Minerals Inc. said it will raise C$25.09 million in a non-brokered private placement of stock. BlackRock, Colonial First State Global Asset Management and Franklin Templeton Investments are among the investors.
The company will sell 71,678,600 common shares at C$0.35 apiece. The price per share is a 5.41% discount to the Nov. 4 closing share price of C$0.37.
Settlement is expected on Nov. 13.
Proceeds will be used for the advancement of Romarco's Haile Gold Mine, including permitting activities, equipment payments and general corporate purposes.
Vancouver, B.C.-based Romarco is a precious metals exploration company.
| Issuer: | Romarco Minerals Inc.
|
| Issue: | Common stock
|
| Amount: | C$25,087,510
|
| Shares: | 71,678,600
|
| Price: | C$0.35
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | BlackRock, Colonial First State Global Asset Management and Franklin Templeton Investments
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 13
|
| Stock symbol: | Toronto: R
|
| Stock price: | C$0.37 at close Nov. 4
|
| Market capitalization: | C$219.72 million
|
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