By Sheri Kasprzak
New York, April 10 - Royal Standard Minerals Inc. said it arranged a private placement for up to C$11 million.
The non-brokered deal includes up to 9,565,217 units at C$1.15 apiece, a 25.8% discount to the C$1.55 closing stock price on April 7.
The units are comprised of one share and one half-share warrant. Each whole warrant is exercisable at C$1.75 for two years.
Based in Manhattan, Nev., Royal Standard is a mineral exploration company.
| Issuer: | Royal Standard Minerals Inc.
|
| Issue: | Units of one share and one half-share warrant
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| Amount: | C$11 million (maximum)
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| Units: | 9,565,217 (maximum)
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| Price: | C$1.15
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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$1.75
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| Placement agent: | Non-brokered
|
| Pricing date: | April 10
|
| Stock symbol: | TSX Venture: RSM
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| Stock price: | C$1.55 at close April 10
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