Non-brokered deal sells 25 million shares at C$0.12, a 25% discount
By Devika Patel
Knoxville, Tenn., July 18 – Resource Capital Gold Corp. said on Sunday that it plans a C$3 million non-brokered private placement of stock.
The company will sell 25 million common shares at C$0.12 apiece, a 25% discount to the July 15 closing share price of C$0.16.
In connection with the offering, certain shareholders plan to complete a “gypsy swap” in which they would sell up to 12.5 million common shares and then purchase up to 12.5 million shares in the placement.
Proceeds will be used to advance the Corcoran Canyon Silver-Gold Project through the completion of a 43-101-compliant resource calculation, extensional and infill drilling, metallurgical test work and other pre-feasibility study work.
The gold and silver exploration and resource development company is based in Vancouver, B.C.
| Issuer: | Resource Capital Gold Corp.
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| Issue: | Common stock
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| Amount: | C$3 million
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| Shares: | 25 million
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| Price: | C$0.12
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| Warrants: | No
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| Agent: | Non-brokered
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| Pricing date: | July 17
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| Stock symbol: | TSX Venture: RCG
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| Stock price: | C$0.16 at close July 15
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| Market capitalization: | C$3.42 million
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