Proceeds used to explore and develop the projects of Rye Patch Gold US
By Devika Patel
Knoxville, Tenn., July 31 - Rye Patch Gold Corp. said it has arranged a C$4 million non-brokered private placement of units.
The company will sell 7,272,727 units of one common share and one half-share warrant at C$0.55 per unit. The whole warrants are exercisable at C$0.75 for two years. The strike price reflects a 44.23% premium to the July 30 closing share price of C$0.52.
Proceeds will be used to explore and develop the projects of subsidiary Rye Patch Gold US Inc., as well as for the company's 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 half-share warrant
|
| Amount: | C$4 million
|
| Units: | 7,272,727
|
| Price: | C$0.55
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.75
|
| Agent: | Non-brokered
|
| Pricing date: | July 31
|
| Stock symbol: | TSX Venture: RPM
|
| Stock price: | C$0.52 at close July 30
|
| Market capitalization: | C$77.44 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.
