By Sheri Kasprzak
Atlanta, March 11 - Royal Standard Minerals Inc. said it will raise up to C$2.45 million in a private placement.
The offering includes up to 7 million units at C$0.35 each.
The units are comprised of one share and one half-share warrant. The whole warrants allow for an additional share at C$0.50 each for two years.
Canaccord Capital Corp. is the placement agent.
Based in Sparks, Nev., Royal Standard is a gold exploration and development company. It plans to use the proceeds for a surface-drilling program in Nye County, Nevada.
| Issuer: | Royal Standard Minerals Inc.
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| Issue: | Units of one share and one half-share warrant
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| Amount: | C$2.45 million
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| Units: | 7 million
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| Price: | C$0.35
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | Two years
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| Warrant strike price: | C$0.50
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| Placement agent: | Canaccord Capital Corp.
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| Pricing date: | March 11
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| Stock price: | C$0.345 at close March 11
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