Deal sells 5.6 million units of one share, a warrant at $0.05 per unit
By Devika Patel
Knoxville, Tenn., April 2 – Royal Mines and Minerals Corp. settled a $280,000 private placement of units on March 31, according to an 8-K filed Thursday with the Securities and Exchange Commission. Of the proceeds, $170,000 was raised in cash and $110,000 through the conversion of debt.
The company sold 5.6 million units of one common share and one warrant at $0.05 per unit.
Each two-year warrant is exercisable at $0.10, a 900% premium to the April 1 closing share price of $0.01.
Royal Mines and Minerals, based in Henderson, Nev., is a precious metals acquisition, exploration and development company.
| Issuer: | Royal Mines and Minerals Corp.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | $280,000
|
| Units: | 5.6 million
|
| Price: | $0.05
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | $0.10
|
| Announcement date: | April 2
|
| Settlement dates: | March 31
|
| Stock symbol: | OTCBB: RYMM
|
| Stock price: | $0.01 at close April 1
|
| Market capitalization: | $3.35 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.
