Uncategorized
Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email

Rugby Mining Announces Closing of CAD$1.2 Million Non-Brokered Private Placement

 

 

 

 

 

Rugby Mining Limited (TSX-V: RUG) is pleased to announce that it has closed the non-brokered private placement announced February 5, 2019 subject to TSX-V approval.

 

Due to exceptional demand, the Company took additional subscriptions over the February 5, 2019 announcement and will issue 6,588,331 units at a price of CAD$0.18 per Unit for gross proceeds of CAD$1,185,900 . Each Unit consists of one common share and one half common share purchase warrant. Each full warrant (two Half Warrants together) will entitle the holder thereof to purchase one additional common share of the Company at an exercise price of $0.30 for a period of one year from the date of TSX.V approval.

 

Four directors and two officers of the Company participated in the Offering and will acquire, directly or indirectly, an aggregate of 1,415,000 Units. The participation by insiders in the Offering is considered to be a “related party transaction” as defined under Multilateral Instrument 61-101. The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued nor the consideration being paid exceeds 25% of Rugby’s market capitalization.

 

The Company paid CAD$11,410 as finder’s fees in connection with a portion of the Offering.

 

All securities issuable pursuant to the Offering are subject to a four month hold period expiring from the date of TSX.V approval.

 

Proceeds of the Offering will be used to fund Rugby’s exploration expenditures including at its Mabuhay Project, Colombian Copper Project and for administrative purposes.

 

Posted March 15, 2019

Share this news article...
Share on LinkedIn
Linkedin
Share on Facebook
Facebook
Tweet about this on Twitter
Twitter
Email this to someone
email

MORE or "UNCATEGORIZED"


Argo Gold Drills 132 g/t Gold over 1.8 m At Its Flagship Woco Gold Project

Argo Gold (CSE: ARQ) is pleased to announce the first batch of dr... READ MORE

March 22, 2019

ATAC Resources Ltd. Closes Oversubscribed $3.68M Private Placement

ATAC Resources Ltd. (TSX-V: ATC) announces that it has closed the... READ MORE

March 22, 2019

Golden Arrow Closes Oversubscribed Final Tranche of the Private Placement

Golden Arrow Resources Corporation (TSX-V: GRG) (FSE: G6A) (OTCQB... READ MORE

March 22, 2019

Fertilizer Industry Concerned Over Lack of Consultation on Saskatchewan Government's $117 Million Potash Tax Hit

Fertilizer Canada is concerned about the lack of consultation fro... READ MORE

March 21, 2019

Great Bear Drills Multiple High-Grade Gold Veins in Hinge Zone Including 30.15 g/t Gold Over 7.25m

Great Bear Resources (TSX-V: GBR) reported drill results from the... READ MORE

March 21, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions