By Sheri Kasprzak
Atlanta, Dec. 10 - Rubicon Minerals Corp. said Friday it has downsized its previously announced C$6 million private placement to C$3 million.
The company will now issue 2,142,857 flow-through shares at C$1.40 each.
Placement agent First Associates Investments Inc. has the option to increase the size of the offering by C$1.5 million for a maximum of C$4.5 million.
The offering was originally announced Nov. 24 as a C$6 million deal for 3.53 million flow-through shares at C$1.70 each.
National Bank Financial Inc. had also been the placement agent when the deal was initially announced.
Rubicon is a Vancouver, B.C.-based mineral exploration company. The company plans to use the proceeds from the financing to fund a major drill program at its McFinley gold project in Ontario and to fund several drill projects in Newfoundland.
| Issuer: | Rubicon Minerals Corp.
|
| Issue: | Flow-through shares
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| Amount: | C$3 million
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| Shares: | 2,142,857
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| Price: | C$1.40
|
| Warrants: | No
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| Placement agent: | First Associates Investments Inc.
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| Settlement date: | Nov. 24
|
| Amended: | Dec. 10
|
| Stock price: | C$1.13 at close Nov. 24
|
| Stock price: | C$0.99 at close Dec. 10
|
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