Non-brokered offering slated to fund exploration and working capital
By Devika Patel
Knoxville, Tenn., June 2 – Revelo Resources Corp. said it plans a C$1.5 million non-brokered private placement of units.
The company will sell 20 million units of one common share and a half-share warrant at C$0.075 per unit. Each whole two-year warrant is exercisable at C$0.11, a 22.22% premium to the June 1 closing share price of C$0.09.
Proceeds will be used for exploration, general working capital and other corporate purposes.
Based in Vancouver, B.C., the company explores for copper, gold and silver.
| Issuer: | Revelo Resources Corp.
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| Issue: | Units of one common share and a half-share warrant
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| Amount: | C$1.5 million
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| Units: | 20 million
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| Price: | C$0.075
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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$0.11
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| Agent: | Non-brokered
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| Pricing date: | June 2
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| Stock symbol: | TSX Venture: RVL
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| Stock price: | C$0.09 at close June 1
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| Market capitalization: | C$8.52 million
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