Rainy Mountain Royalty (RMO-V) Sept 6, '16 subject to regulatory approval, intends to proceed with a non-brokered private placement to raise up to $420,000 by the issuance of seven million non-flow-through units at six cents per unit. Each unit will consist of one common share and one share purchase warrant, with each warrant entitling the holder to purchase an additional common share for a period of two years at an exercise price of 10 cents. With respect to this private placement, the company may pay finders' fees in the amount of 10 per cent (payable in cash or units), based on the sale of the units purchased by subscribers introduced to the company by such finders.
The company intends to use the proceeds from this private placement for furthering potential exploration on the Brunswick property and for general working capital purposes.
This news release has been reviewed and approved by Robert Middleton, P.Eng., who is acting as the Company's Qualified Person for the Brunswick property project, in accordance with regulations under NI 43-101.
For further information, contact Mr. Clive Shallow, Shareholder Communications, at 604-922-2030, or visit the Company’s website at www.rmroyalty.com .
Rainy Mountain Royalty Corp.
"Douglas L. Mason"
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Douglas L. Mason, President & CEO |
