By Sheri Kasprzak
New York, June 22 - Rubicon Minerals Corp. said Altius Resources Inc. has agreed to purchase C$1.9 million in special warrants.
Altius plans to buy 2.5 million flow-through special warrants at C$0.60 each and 800,000 non flow-through special warrants at C$0.50 each.
The offering is the largest component of a C$3 million private placement. Of the remaining C$1.1 million, Rubicon insiders will subscribe for up to C$500,000.
The special warrants will convert into units of either one flow-through or non flow-through share and one half-share warrant. Each whole warrant is exercisable at C$0.80 for one year.
Vancouver, B.C.-based Rubicon is a mineral exploration company.
| Issuer: | Rubicon Minerals Corp.
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| Issue: | Flow-through and non flow-through special warrants exchangeable for units of one share and one half-share warrant
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| Amount: | C$1.9 million
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| Placement agent: | Non-brokered
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| Announcement date: | June 22
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| Stock symbol: | Toronto: RMX
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| Stock price: | C$1.43 at close June 22
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| Flow-through special warrants
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| Special warrants: | 2.5 million
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| Price: | C$0.60
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.80
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| Non flow-through special warrants
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| Special warrants: | 800,000
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| Price: | C$0.50
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| Warrants: | One half-share warrant per unit
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| Warrant expiration: | One year
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| Warrant strike price: | C$0.80
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