Company sells 23.02 million units with two-year warrants at $0.05 each
By Devika Patel
Knoxville, Tenn., July 15 - Royal Mines and Minerals Corp. settled a $1.15 million private placement of units on July 13, according to an 8-K filed Friday with the Securities and Exchange Commission.
The company sold 23.02 million units of one common share and one warrant at $0.05 per unit. Each warrant is exercisable at $0.10 for two years. The strike price reflects a 42.86% premium to the July 12 closing share price of $0.07.
Royal Mines and Minerals, based in Henderson, Nev., is a mineral acquisition, exploration and development company.
| Issuer: | Royal Mines and Minerals Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $1,151,000
|
| Units: | 23.02 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Settlement date: | July 13
|
| Stock symbol: | Pink Sheets: RYMM
|
| Stock price: | $0.08 at close July 13
|
| Market capitalization: | $9.46 million
|
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