The Prospector News

Rio Novo Gold Announces Cdn. $1.5 Million Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Rio Novo Gold Announces Cdn. $1.5 Million Non-Brokered Private Placement

 

 

 

 

 

Rio Novo Gold Inc. (TSX:RN) (TSX:RN.WT) is pleased to announce that it has completed a non brokered private placement of 12,271,763 Ordinary Shares of the Company to Adair Investments Ltd. a private Bahamas based company, at an issue price of Cdn.$0.12 per share, for an aggregate subscription amount of Cdn.$1,472,612.

 

 

The number of Ordinary shares issued by this private placement is 7.37% of the currently outstanding Ordinary shares, and the issue price was at an approximately 17% discount to the 5 day V-WAP market price as at the date of the agreement. These shares are subject to the four month hold period prescribed under Canadian securities laws.

 

 

The proceeds of the private placement have been used for exploration license option payments in respect of the Company’s Almas project.

 

 

About Rio Novo

 

 

Rio Novo is focused on the acquisition, exploration and development of gold properties in Brazil and Colombia.

 

 

The Company’s goal is to become a producer of gold by bringing the Almas Gold Project, located in the State of Tocantins in Brazil, into production. Almas Project enjoys both established infrastructure, main grid hydropower in a proven and mining friendly jurisdiction and is permitted for construction.

 

 

Posted February 15, 2017

Share this news article

MORE or "UNCATEGORIZED"


Treasury Announces Closing of C$2.8 Million Bought Deal Private Placement

Treasury Metals Inc. (TSX: TML)is pleased to announce that ... READ MORE

November 21, 2019

AMEX Announces Partial Exercise of Underwriter’s Option for Additional Gross Proceeds of $981,900 and Aggregate Gross Proceeds of $8,982,000

Further to its press release dated November 7, 2019, Amex Explora... READ MORE

November 21, 2019

Barksdale Defines Shallow Copper Porphyry Drill Target at San Antonio

Barksdale Capital Corp. (TSX-V:BRO) (OTCQB:BRKCF) is pleased to a... READ MORE

November 21, 2019

Group Ten Closes Oversubscribed Private Placement Financings, Including Investments by Sprott Asset Management and GoldSpot Discoveries

Group Ten Metals Inc. (TSX-V: PGE) (OTC: PGEZF) (FSE: 5D32) is pl... READ MORE

November 21, 2019

Tectonic Metals Drills 6.03 g/t Au Over 28.95 Metres Discovering New Mineralized Structure at Tibbs Property

Tectonic Metals Inc. (TSX-V:TECT) announced assay results of its ... READ MORE

November 21, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions