Company sells 64,770,700 common shares at C$0.50 per share in offering
By Devika Patel
Knoxville, Tenn., Dec. 12 – Romarco Minerals Inc. said it will raise C$32.39 million in a non-brokered private placement of stock.
The company will sell 64,770,700 common shares at C$0.50 apiece. The price per share is a 13.79% discount to the Dec. 11 closing share price of C$0.58.
BlackRock Investment Management (UK) Ltd., Franklin Templeton Investments, and Colonial First State plan to participate.
Settlement is expected Dec. 18.
Proceeds will be used for working capital and general corporate purposes.
Vancouver, B.C.-based Romarco is a precious metals exploration company.
| Issuer: | Romarco Minerals Inc.
|
| Issue: | Common stock
|
| Amount: | C$32,385,350
|
| Shares: | 64,770,700
|
| Price: | C$0.50
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Investors: | BlackRock Investment Management (UK) Ltd., Franklin Templeton Investments, and Colonial First State
|
| Pricing date: | Dec. 12
|
| Settlement date: | Dec. 18
|
| Stock symbol: | Toronto: R
|
| Stock price: | C$0.58 at close Dec. 11
|
| Market capitalization: | C$355.27 million
|
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