By Devika Patel
Knoxville, Tenn., June 23 - Rye Patch Gold Corp. said it will raise C$2 million in a private placement of units.
The company will sell 10 million units of one common share and one warrant at C$0.20 apiece on a best efforts basis. Each warrant is exercisable at C$0.27 for 18 months.
Haywood Securities Inc. is the agent.
Proceeds will be used for exploration and development of the company's Lincoln Hill and Wilco projects as well as 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 warrant
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Amount: | C$2 million
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Units: | 10 million
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Price: | C$0.20
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Warrants: | One warrant per unit
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Warrant expiration: | 18 months
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Warrant strike price: | C$0.27
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Agent: | Haywood Securities Inc.
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Pricing date: | June 23
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Stock symbol: | TSX Venture: RPM
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Stock price: | C$0.21 at close June 22
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Market capitalization: | C$9.28 million
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