Proceeds used for acquisition of Florida Canyon gold mine in Nevada
By Devika Patel
Knoxville, Tenn., June 16 – Rye Patch Gold Corp. said it settled a C$49.11 million private placement of subscription receipts. The deal priced for C$40.04 million with a C$10.01 million greenshoe on June 2.
The company sold 223,247,242 receipts at C$0.22 per receipt, a 35.29% discount to the June 1 closing share price of C$0.34. Each receipt will be exchangeable for one common share.
Of the receipts, 41,247,242 were part of the partially exercised greenshoe.
The offering was conducted on a best-efforts basis through a syndicate of agents co-led by Macquarie Capital Markets Canada Ltd. and Canaccord Genuity Corp. and including Dundee Securities Ltd. and GMP Securities LP.
Proceeds will be used for the planned acquisition of the Florida Canyon gold mine in Pershing County, Nev., and to redevelop and expand the mine.
Vancouver, B.C.-based Rye Patch is a gold exploration company.
| Issuer: | Rye Patch Gold Corp.
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| Issue: | Subscription receipts
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| Amount: | C$49,114,393, including C$9,074,393 greenshoe of 41,247,242 receipts
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| Receipts: | 223,247,242
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| Price: | C$0.22
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| Warrants: | No
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| Agents: | Macquarie Capital Markets Canada Ltd. and Canaccord Genuity Corp. (co-leads), Dundee Securities Ltd. and GMP Securities LP
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| Pricing date: | June 2
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| Settlement date: | June 16
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| Stock symbol: | TSX Venture: RPM
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| Stock price: | C$0.34 at close June 1
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| Market capitalization: | C$58.97 million
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