Offer’s proceeds help return the Pahtavaara gold mine to production
By Devika Patel
Knoxville, Tenn., July 27 – Rupert Resources Inc. said it will raise C$8 million in a non-brokered private placement of convertible debentures.
The 5% debenture mature in three years. It converts to common stock at C$0.95 per share, which is an 18.75% premium to the July 26 closing share price of C$0.80. The company may prepay the convertibles after one year.
Proceeds will be used for the exploration and development required to return the Pahtavaara gold mine to production.
Rupert is a Vancouver, B.C.-based gold exploration company.
| Issuer: | Rupert Resources Inc.
|
| Issue: | Convertible debentures
|
| Amount: | C$8 million
|
| Maturity: | Three years
|
| Coupon: | 5%
|
| Conversion premium: | 18.75%
|
| Conversion price: | C$0.95
|
| Call: | Yes
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | July 27
|
| Stock symbol: | TSX Venture: RUP
|
| Stock price: | C$0.80 at close July 26
|
| Market capitalization: | C$47.82 million
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
