By Laura Lutz
Des Moines, April 18 - Royal Roads Corp. plans to conduct a private placement of units and flow-through shares for up to C$5.5 million.
The company intends to sell up to 7.375 million units at C$0.40 per unit and up to 5.1 million flow-through shares at C$0.50 per share.
Each unit will consist of one non flow-through share and one half-share warrant with each whole warrant exercisable for one non flow-through share at C$0.54 for 20 months.
Proceeds will be used for exploration and general corporate purposes.
Northern Securities Inc. will be lead underwriter of a syndicate that also includes Bieber Securities Inc.
The underwriters have a greenshoe for up to C$600,000.
Settlement is expected on May 4.
Royal Roads is a resource company based in Halifax, N.S.
| Issuer: | Royal Roads Corp.
|
| Issue: | Units of one non flow-through share and one half-share non flow-through warrant; flow-through shares
|
| Amount: | C$5.5 million
|
| Greenshoe: | C$600,000
|
| Underwriters: | Northern Securities Inc. (lead), Bieber Securities Inc.
|
| Pricing date: | April 18
|
| Settlement date: | May 4
|
| Stock symbol: | TSX Venture: RRO
|
| Stock price: | C$0.43 at close April 17
|
|
|
| Units
|
| Units: | 7.375 million
|
| Price: | C$0.40
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 20 months
|
| Warrant strike price: | C$0.54
|
|
|
| Flow-through shares
|
| Shares: | 5.1 million
|
| Price: | C$0.50
|
| Warrants: | No
|
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