By Sheri Kasprzak
Atlanta, May 16 - Royal Standard Minerals Inc. said it has closed the C$640,850 second and final tranche of a C$3,703,350 private placement.
The final tranche included 1,831,000 units at C$0.35 each.
The units are comprised of one share and one half-share warrant. The full warrants are exercisable for an additional share at C$0.50 each for two years.
On April 6, the company closed the first tranche of the deal for C$3,062,500.
Canaccord Capital Corp. had been the placement agent for the first tranche. The second tranche was not brokered.
Based in Sparks, Nev., Royal Standard is a gold exploration and development company. The proceeds will be used to complete the construction of the company's Gold Wedge project surface and underground facilities in Nye County, Nev.
| 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$640,850
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| Units: | 1,831,000
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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
|
| Warrant strike price: | C$0.50
|
| Settlement date: | May 16
|
| Stock price: | C$0.335 at close May 16
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