By Sheri Kasprzak
New York, March 1 - Rubicon Minerals Corp. upsized to C$15 million its previously announced C$10 million private placement.
The company will sell a total of 21,428,571 units at C$0.70 each.
The units consist of one share and one half-share warrant. Each full warrant is exercisable at C$1.50 for two years.
Former Goldcorp Inc. chairman Rob McEwen will buy C$10 million of the units. The rest will come from third-party investors.
The offering priced as a C$10 million placement on Feb. 26.
Proceeds will be used for exploration on the company's North American gold districts.
Based in Vancouver, B.C., Rubicon is a gold exploration company.
| Issuer: | Rubicon Minerals Corp.
|
| Issue: | Units of one share and one half-share warrant
|
| Amount: | C$15 million
|
| Units: | 21,428,571
|
| Price: | C$0.70
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$1.50
|
| Pricing date: | Feb. 26
|
| Upsized: | March 1
|
| Stock symbol: | Toronto: RMX
|
| Stock price: | C$1.33 at close Feb. 26
|
| Stock price: | C$1.55 at close Feb. 28
|
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