By Devika Patel
Knoxville, Tenn., Dec. 15 - Rye Patch Gold Corp. said it has arranged a C$5 million non-brokered private placement of units.
The company will sell 20 million units of one common share and one half-share warrant at C$0.25 per unit. The whole warrants are exercisable at C$0.35 for two years.
Proceeds will be used to fund the company's planned acquisition of a 64% interest in Centerra Gold (U.S.) Inc.'s Ren project, for a drilling exploration program on the project and for general working capital.
Vancouver, B.C.-based Rye Patch is a gold exploration company.
Issuer: | Rye Patch Gold Corp.
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Issue: | Units of one common share and one half-share warrant
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Amount: | C$5 million
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Units: | 20 million
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Price: | C$0.25
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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$0.35
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Agent: | Non-brokered
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Pricing date: | Dec. 15
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Stock symbol: | TSX Venture: RPM
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Stock price: | C$0.275 at close Dec. 14
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Market capitalization: | C$18.9 million
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