By Devika Patel
Knoxville, Tenn., Aug. 7 - Rye Patch Gold Corp. said it settled a non-brokered private placement of units, raising C$3.15 million. The deal priced for C$2.1 million on July 24 and was increased July 29.
The company sold 21,031,666 units of one common share and one warrant at C$0.15 apiece. Each warrant is exercisable at C$0.20 for 18 months.
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.
|
| Issue: | Units of one common share and one warrant
|
| Amount: | C$3,154,750
|
| Units: | 21,031,666
|
| Price: | C$0.15
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.20
|
| Agent: | Non-brokered
|
| Pricing date: | July 24
|
| Upsized: | July 29
|
| Settlement date: | Aug. 7
|
| Stock symbol: | TSX Venture: RPM
|
| Stock price: | C$0.165 at close July 23
|
| Market capitalization: | C$9.28 million
|
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