By Laura Lutz
Des Moines, May 18 - Royal Roads Corp. closed the second and final tranche of its private placement of units and flow-through shares, bringing the total deal size to C$6,387,500, including a greenshoe for C$887,500.
In total, the company sold 6.555 million flow-through shares at C$0.50 per share and 7.775 million units at C$0.40 per unit.
The most recent tranche consisted of 2.55 million flow-through shares and 5.275 million units.
The first tranche, which closed on May 4, consisted of 4 million flow-through shares and 2.5 million units.
The offering priced on April 18 as a C$5.5 million offering of 7.375 million units and 5.1 million shares with a greenshoe for C$600,000.
Each unit consists 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.
Northern Securities Inc. is the lead underwriter of a syndicate that also includes Bieber Securities Inc.
Proceeds will be used for exploration and general corporate purposes.
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$6,387,500
|
| Underwriters: | Northern Securities Inc. (lead), Bieber Securities Inc.
|
| Pricing date: | April 18
|
| Settlement date: | May 4 (for C$3 million); May 18 (for C$3,387,500)
|
| Stock symbol: | TSX Venture: RRO
|
| Stock price: | C$0.43 at close April 17
|
| Stock price: | C$0.44 at close May 4
|
| Stock price: | C$0.40 at close May 18
|
|
|
| Units
|
| Units: | 7.775 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: | 6.555 million
|
| Price: | C$0.50
|
| Warrants: | No
|
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