Company arranges non-brokered offering as part of project acquisition
By Devika Patel
Knoxville, Tenn., June 15 – Rouge Resources Ltd. said it plans to raise C$5.2 million in a non-brokered private placement of stock. The deal, which priced for C$3.12 million on Wednesday and was increased a few hours later, is being conducted in connection with Rouge’s planned acquisition of the Pampas El Peñon gold project in Chile.
The company will sell 20 million common shares at C$0.26 per share, which is a 25.71% discount to the June 14 closing share price of C$0.35.
Vancouver, B.C.-based Rouge is engaged in the acquisition, exploration and development of mineral resource properties and owns mineral claims in Ontario. The company intends to change its name to Fiore Exploration Ltd. or some other suitable name and appoint an experienced management team on closing.
| Issuer: | Rouge Resources Ltd.
|
| Issue: | Common stock
|
| Amount: | C$5.2 million
|
| Shares: | 20 million
|
| Price: | C$0.26
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | June 15
|
| Upsized: | June 15
|
| Stock symbol: | TSX Venture: ROU
|
| Stock price: | C$0.35 at close June 14
|
| Market capitalization: | C$19.42 million
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
