By Sheri Kasprzak
Atlanta, Oct. 29 - Roxmark Mines Ltd. plans a C$3.5 million non-brokered private placement, the company said Friday.
The deal consists of class A units of one flow-through common share and one half common share purchase warrant at C$0.15 per unit, as well as class B units of one common share and a common share purchase warrant for C$0.12.
For the class A units, the whole warrants, good for one year, allow for the purchase of one additional share at C$0.17. For the class B units, the warrants allow for the purchase of an additional share at C$0.17 for two years.
The private placement is scheduled to close Nov. 28.
Roxmark, based in Toronto, is a gold mining company. About C$2 million of the money raised in the deal will fund gold and molybdenum exploration while the balance of the proceeds will be used for general working capital.
| Issuer: | Roxmark Mines Ltd.
|
| Issue: | Class A and class B units
|
| Amount: | C$3.5 million
|
| Announcement date: | Oct. 29
|
| Settlement date: | Nov. 8
|
| Stock price: | C$0.11 at close Oct. 28
|
|
|
| Class A units
|
| Issue: | Class A units of one flow-through common share and one half common share warrant
|
| Price: | C$0.15 per unit
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.17
|
|
|
| Class B units
|
| Issue: | Class B units of one common share and one common share warrant
|
| Price: | C$0.12
|
| Warrants: | One common share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.17
|
|
|
© 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.
