Deals fund exploration at Bazooka gold property, Meunier JV Property
By Devika Patel
Knoxville, Tenn., Dec. 10 - RT Minerals Corp. said it will conduct three non-brokered private placements of units. The deals will raise C$3.01 million.
The company will sell 3.75 million units of one common share and one half-share warrant at C$0.16 apiece for C$600,000. It also will sell 7 million units of one flow-through common share and one half-share warrant at C$0.20 apiece for C$1.4 million. The company also will sell 3,593,750 units of one flow-through common share and one half-share warrant at C$0.28 apiece for C$1.01 million.
The whole warrants are each exercisable at C$0.20 for two years. The strike price reflects a 2.56% premium to the Dec. 9 closing share price of C$0.195.
Proceeds will be used for general administrative purposes and exploration programs primarily on the Bazooka gold property and the Meunier JV Property.
The mineral resource company is based in Vancouver, B.C.
Issuer: | RT Minerals Corp.
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Issue: | Units of one common share and one half-share warrant, units of one flow-through common share and one half-share warrant
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Amount: | C$3,006,250
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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$0.20
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Agent: | Non-brokered
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Pricing date: | Dec. 10
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Stock symbol: | CNSX: RTM
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Stock price: | C$0.195 at close Dec. 10
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First deal
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Amount: | C$600,000
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Units: | 3.75 million
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Price: | C$0.16
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Second deal
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Amount: | C$1.4 million
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Units: | 7 million
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Price: | C$0.20
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Third deal
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Amount: | C$1,006,250
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Units: | 3,593,750
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Price: | C$0.28
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