Deal sells units with warrants at C$0.25 per unit; Canaccord is agent
By Devika Patel
Knoxville, Tenn., Jan. 19 - Rouge Resources Ltd. said it has arranged a C$1 million private placement of units. Canaccord Genuity Corp. is the agent.
The company will sell 4 million units of one common share and one warrant at C$0.25 per unit.
Each warrant will be exercisable at C$0.40 for one year.
Proceeds will be used to continue exploration activities on the company's Dotted Lake Property, to complete its exclusive option agreement to purchase of the adjacent Lampson Lake claims, for operating expenses and to supplement general working capital.
Vancouver-based Rouge is engaged in the acquisition, exploration and development of mineral resource properties and owns mineral claims in Ontario, Canada.
| Issuer: | Rouge Resources Ltd.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$1 million
|
| Units: | 4 million
|
| Price: | C$0.25
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.40
|
| Agent: | Canaccord Genuity Corp.
|
| Pricing date: | Jan. 19
|
| Stock symbol: | Pink Sheets: ROUGF
|
| Stock price: | $0.35 at close Jan. 18
|
| Market capitalization: | $14.2 million
|
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