Non-brokered deal funds Talbot Property, Rail Property drill program
By Devika Patel
Knoxville, Tenn., Aug. 11 – Rockcliff Copper Corp. said it increased its non-brokered private placement of units to C$2 million from C$1.75 million. The oversubscribed deal priced on July 22.
The company will now sell 28,571,429 units of one common share and one half-share warrant at C$0.07 per unit.
Each whole warrant will be exercisable at C$0.10 for two years. The strike price is an 11.11% premium to the July 21 closing share price of C$0.09.
Proceeds will be used for a drill program at the Talbot Property and the Rail Property.
The copper, zinc, silver and gold exploration company is based in Toronto.
| Issuer: | Rockcliff Copper Corp.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2 million
|
| Units: | 28,571,429
|
| Price: | C$0.07
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | Two years
|
| Warrant strike price: | C$0.10
|
| Agent: | Non-brokered
|
| Pricing date: | July 22
|
| Upsized: | Aug. 11
|
| Stock symbol: | TSX Venture: RCU
|
| Stock price: | C$0.09 at close July 21
|
| Market capitalization: | C$9.74 million
|
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